Stocks end lower as investors opt for profit booking

Stocks closed lower on Monday as cautious investors engaged in profit booking to capitalise on recent gains.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), fell by 25.66 points to close the day at 5,803.71.

The benchmark index of the capital bourse broke its gaining streak as cautious investors engaged in profit booking to realise their recent gains and preferred to observe the market’s trend, EBL Securities said.

The blue-chip index DS30, a group of 30 prominent companies, saw a 5.27-point increase to 2134.11, while the DSES index, which represents Shariah-based companies, saw a 9.07-point decrease to 1,236.48 till the end.

The market witnessed volatility due to a profit-booking sell frenzy while investors remained active on both sides of the trading fence as some investors kept on taking positions in sector-specific scrips with positive expectations. However, the regulator’s attempt in the formation of a probe committee to review various market irregularities has also induced caution among market participants to remain watchful and monitor the market momentum, added the EBL securities.

Turnover, a crucial indicator of the market, stood at Tk 10.66 billion, up 14.13 per cent from the previous trading day.

The majority of the stocks saw a price decrease, as out of the 397 issues traded, 80 closed higher, 291 ended lower, and 26 remained unchanged on the DSE trading floor.

BRAC Bank was the most-traded stock with shares worth Tk 852.65 million changing hands, followed by British American Tobacco, Olympic Industries Ltd, MJL Bangladesh and Renata PLC.

The Chittagong Stock Exchange (CSE) also saw declines, with its All Share Price Index (CASPI) dropping by 31 points to 16,593 and the Selective Categories Index (CSCX) falling by 13.9 points to 10,002. 

The port city bourse traded 4.40 million shares and mutual fund units with a turnover volume of Tk 162 million.

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