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2 months ago

Profit booking drags markets down

DSEX drops 30.75 points

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The Dhaka Stock Exchange (DSE) experienced a downturn on Thursday, with the DSEX falling by 30.75 points to close at 5,316. The decline was attributed to investors capitalising on recent short-lived gains to book profits.

The DSEX, the core index of the premier bourse, closed in the red as many investors took advantage of recent short-lived gains to book profits. Overall, the market exhibited a mixed trading pattern with investors being cautious on the bourse, and selectively shifting positions toward stocks anticipated to declare strong earnings in the coming fiscal declaration, according to EBL Securities.

The blue-chip index DS30, a group of 30 prominent companies, fell by 2.21 points to 1,965.54. Meanwhile, the DSES Index, which represents Shariah-compliant stocks, decreased by 4.66 points, settling at 1,187.91.

Turnover, a crucial indicator of the market, stood at Tk 5.42 billion, marking a 16.84 per cent decline from the previous trading day.

The market exhibited volatile trading activity today as profit-taking began early in the session, with buyers and sellers actively competing to steer market momentum. Despite efforts by bargain-hunting investors to accumulate selective large-cap stocks, sellers ultimately gained control, pushing the market into negative territory again, after two consecutive sessions of gains, EBL Securities added.

Majority of the stocks saw a price decrease, as out of the 395 issues traded, 97 closed higher, 246 ended lower, and 52 remained unchanged on the DSE trading floor.

Agni Systems Ltd was the most-traded stock with shares worth Tk 214.59 million changing hands, followed by Orion Pharma Ltd., Beximco Pharmaceuticals Ltd, Grameenphone Ltd, and Best Holdings Limited.

The Chittagong Stock Exchange (CSE) also closed lower, with the All Share Price Index (CASPI) falling by 27.63 points to 14,852, and the Selective Categories Index (CSCX) dropping by 13.20 points to 9,032.8.

The port city bourse traded 2.43 million shares and mutual fund units with a turnover volume of Tk 50.39 million.

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