Profit booking pull stocks down

FE Online Report | Published: August 05, 2018 18:01:01 | Updated: August 06, 2018 19:29:17

Stocks finished lower Sunday, breaking a three-day winning streak, as risk-averse investors chose to book quick gain on sector-wise stocks.

Market insiders said the retail investors went for booking profits, especially banking sector issues, which triggered a selling pressure in the market.

A section of investors, who were executed trade through DSE Mobile App, faced disruption as mobile internet was slow in an attempt to quell the ongoing student protests.

The market opened on negative note and the downward trend continued till end of the session with marginal volatility in the opening hour.

Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 42.76 points or 0.79 per cent to settle at 5,357 after adding 137 points in the past three sessions.

However, the two other indices -- the DS30 index and the DSE Shariah Index (DSES) –also ended lower.

The DS30 index, comprising blue chips, fell 12 points to finish at 1,887 and the DSE Shariah Index shed nearly 10 points to close at 1,252.

Bearish trend also reflected on the trading activities as total turnover on the Dhaka bourse came down to Tk 6.59 billion, which was 14 per cent lower than the previous day’s turnover of Tk 7.64 billion.

Of the 334 issues traded on the DSE trading floor, 194 closed lower, 115 higher and 25 issues remained unchanged.

A total number of 145,995 trades were executed in the day’s trading session on the DSE with trading volume of 206.51 million securities.

The market capitalisation of the DSE rose to Tk 3,847 billion on the day which was Tk 3,868 billion in the previous session.

Far Chemical Industries topped the DSE turnover chart with 10.44 million shares worth Tk 223 million changing hands.

The other turnover leaders were United Power, Saiham Textile, Paramount Textile and Fu-Wang Food.

Regent Textile was the day’s best performer, posting a gain of 9.90 per cent while Padma Life Insurance was the worst loser, losing 9.57 per cent.

The port city bourse CSE ended lower with its CSE All Share Price Index – CASPI – losing 101 points to settle at 16,491 and the Selective Categories Index - CSCX –shedding 61 points to finish at 9,981.

The losers beat gainers as 149 issues closed lower, 78 ended higher, with 14 issues remaining unchanged on the CSE.

The port city bourse traded 9.12 million shares and mutual fund units worth more than Tk 230 million in turnover.


Share if you like