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The market slipped into the red on Wednesday, after a sharp rise in the previous day, as risk-averse investors opted for booking profits on quick-gaining stocks.
Following the previous day’s sharp gain, the market opened on a positive note and the key index of the major bourse rose about 30 points within 30 minutes. But the rest of the session went down as investors remained confused about the market direction.
DSEX, the prime index of the DSE, went down by 20.19 points or 0.36 per cent to settle at 5,488, after adding about 100 points in the past two straight sessions.
Two other indices also saw correction with the DSE 30 Index, comprising blue chips, lost 15.85 points to finish at 2,092 and the DSE Shariah Index (DSES) shed 3.10 points to close at 1,242.
Turnover, a crucial indicator of the market, came down to Tk 7.75 billion, which was 7.07 per cent lower than the previous day’s turnover of Tk 8.34 billion.
Business conglomerate Beximco Group companies returned to losing after two-day rise with the heavyweight drug maker Beximco Pharma lost 3.14 per cent and Beximco shed 1.64 per cent.
Beximco backed to the topped turnover chart with shares worth about Tk 1.46 billion changing hands, followed by Robi (Tk 699 million), Beximco Pharma (Tk 469 million), LankaBangla Finance (Tk 363 million) and LafargeHolcim (Tk 286 million).
The IT Company - Information Services Network was the day’s best performer, posting a gain of 10 per cent while Savar Refractories was the worst loser, losing 5.35 per cent.
A total number of 144,183 trades were executed in the day’s trading session with a trading volume of 218.50 million shares and mutual fund units.
The market-cap of DSE also dropped slightly to Tk 4,714 billion on Wednesday, down from Tk 4,722 billion in the previous day.
The Chittagong Stock Exchange (CSE) also ended marginally lower with the CSE All Share Price Index – CASPI –losing 81 points to settle at 15,916 and the Selective Categories Index – CSCX shedding 50 points to close at 9,594.
Of the issues traded, 97 declined, 84 advanced and 59 remained unchanged on the CSE.
The port city’s bourse traded 11.39 million shares and mutual fund units with turnover value of Tk 328 million.