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3 months ago

Stocks end lower as profit-booking pressure dominates trading floor

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Stocks ended lower on Sunday as profit-booking sell pressure dominated the trading floor.

The prime index of the Dhaka Stock Exchange (DSE) fell by 27 points to settle at 5,328.33.

The capital market started the week on a gloomy note, with profit-booking pressure remaining prevalent across the trading floor. Cautious investors also reshuffled their portfolios in response to ongoing corporate earnings declarations for the recently concluded quarter, according to EBL Securities.

The blue-chip index DS30, a group of 30 prominent companies, saw a 9.49-point decrease to 1976.92, while the DSES Index, which represents Shariah-based companies, saw a 6.57-point decrease to 1,182.92 till the end.

Turnover, a crucial indicator of the market, stood at Tk 5.06 billion, down 12.21 per cent from the previous trading day.

Investors remained active on both sides of the trading fence, while sellers ended up on the dominant side by the end of the session, according to EBL Securities.

The majority of the stocks saw a price decrease, as out of the 383 issues traded, 150 closed higher, 185 ended lower, and 48 remained unchanged on the DSE trading floor.

Far East Knitting & Dyeing Industries Limited was the most-traded stock with shares worth Tk 203.45 million changing hands, followed by Bangladesh Shipping Corporation, Sunlife Insurance Company Limited, Beximco Pharmaceuticals Ltd., and Islami Bank Bangladesh PLC.

The Chittagong Stock Exchange (CSE) also ended lower with its All Share Price Index (CASPI) decreasing 21 points to settle at 14,859 and the Selective Categories Index (CSCX) losing 15.60 points to settle at 9,047.

The port city bourse traded 2.34 million shares and mutual fund units with a turnover volume of Tk 50.32 million.

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