Dhaka stocks fall on profit booking

Staff Correspondent | Published at 11:22pm on October 17, 2016

Dhaka stocks declined on Monday mainly due to investors’ profit booking share sales, especially those of energy, cement, engineering and pharmaceutical shares.
The key index of Dhaka Stock Exchange, DSEX, fell 0.35 per cent or 16.67 points, to close at 4,692.94 points on the day.
Turnover of the bourse declined to Tk 456.71 crore compared with that of Tk 483.83 crore in the previous trading session.
The key index of country’s premier bourse, which was on the up in last two trading sessions, faced increased share sales on Monday mainly due to investors’ profit booking sales, stockbrokers said.
Due to investors’ profit booking share sales, DSEX lost 25 points in the mid trading session amid decline in share prices of around two-third traded scrips, they said.
On the sectoral front, share prices of almost all the sectors faced erosion, except food and allied and non-bank financial institutions, stockbrokers said.
Banks and non-bank financial institutions, which were on the rise in last trading session, finished mixed due to the downward market vibe.
Besides the profit booking move, another section of investors might have decided to observe the market movement before taking any investment move which resulted in a decline in investors’ participation on the trading floor, they said.
Riding on investors’ optimistic participation and fresh fund injection due to a gradual decline in interest rate on deposits in banks, the market was on the upward move for last couple of months with the bourse’s key index increasing by around 200 points during the period.
Of the 322 companies and mutual funds traded, 93 advanced, 173 declined and 56 remained unchanged.
‘Market moved lower this morning, grounded to the day’s low level in the afternoon,’ said LankaBangla Securities in its market report on Monday.
‘At the end of the session, stocks finished mixed as investors digested positivity in market on the season of earnings declaration,’ it said.
DS30, the blue-chip index of the country’s premier bourse, closed at 1,754.62 points, shedding 0.57 per cent or 10.15 points.
The Shariah index, DSES, declined 0.64 per cent or 7.20 points, to finish at 1,116.07 points.
Doreen Power Generation and Systems led the turnover chart with its shares worth Tk 18.30 crore changing hands.
BSRM Limited, NBL, Square Pharmaceuticals, Bangladesh Building Systems, National Housing Finance and Investments, BDCOM Online, Lafarge Surma Cement, Uttara Finance and Titas Gas Transmission and Distribution Company were other turnover leaders.
Aamra Technologies gained the most with a 6.91 per cent rise in its share prices, while National Tubes was the worst loser, shedding 5.91 per cent.