Stocks drop for 2nd day

Staff Correspondent | Published: 22:41, Jan 25,2021


Dhaka stocks declined for the second day on Monday as a section of investors continued selling shares to book profits following the recent market gain.

DSEX, the key index of Dhaka Stock Exchange, lost 0.44 per cent, or 25.61 points, to close at 5,789.92 points on Monday after losing 20.63 points in the previous session.

After a slight rise at the beginning of Monday’s session, the key index moved downwards and finished in the negative trajectory as a section of investors kept selling shares to book profits, market operators said.

They said that investors were also waiting for declarations of companies’ financial results.

The DSEX had gained around 1,000 points in the last two months.

Share prices of Beximco Pharmaceuticals, City Bank, Grameenphone and LafargeHolcim Bangladesh plunged on Monday.

Share prices of BEXIMCO increased by 0.22 per cent on Monday as the company declared net profit of Tk 155.74 crore and earnings per share of Tk 1.78 in the October-December period, which was Tk 20.23 crore and Tk 0.23 respectively in the same period in the previous year.

Share prices of Square Pharmaceuticals, Summit Power, Bangladesh Submarine Cables Company and British American Tobacco advanced on the day.

EBL Securities in its daily market commentary said, ‘As the market has been cooling down since last week after its one and a half months of bull run, many investors are engaged in profit booking and portfolio rebalancing while other investors are staying cautious ahead of year-end earnings declarations.’

DS30, a composition of 30 large capitalised companies, also declined by 0.37 per cent, or 8.17 points, to close at 2,202.01 points on the day.

Share prices of Energypac Power Generation Limited, which made its debut on Tuesday, rose by 9.97 per cent, the maximum limit allowed, to close at Tk 92.6 a share on Monday.

Average share prices of non-bank financial institution, bank, engineering and textile sectors dropped by 2.1 per cent, 1.1 per cent, 0.6 per cent and 0.5 per cent respectively.

Share prices of pharmaceutical and energy sectors declined by 0.6 per cent and 0.2 per cent respectively.

Turnover on the DSE increased to Tk 1,585.22 crore on Monday compared with that of Tk 1,458.26 crore in the previous session.

Of the 360 scrips traded on the DSE on Monday, 202 declined, 76 advanced and 81 remained unchanged.

Shariah index DSES also shed 0.03 per cent, or 0.41 points, to settle at 1,296.91 points.

Bangladesh Export Import Company led the turnover chart with its shares worth Tk 330.6 crore changing hands on the day.

Beximco Pharmaceuticals, Square Pharmaceuticals, Robi, LankaBangla Finance, Summit Power, GBB Power, City Bank, IFIC Bank and Power Grid Company were the other turnover leaders on the day.

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