Stocks inch down on profit booking

stocks Bangladesh

Stocks closed marginally lower today as investors booked profits on recent gains.

The trading also moved between negative and positive, making over 30 points intra-day volatility.

The benchmark index of Dhaka Stock Exchange, DSEX, lost about 7 points or 0.2% to 4,673, after about two weeks of rally.

The DS30 index, comprising blue chips, was down 3 points to 1,768. The DSE Shariah Index, DSES, fell only 1 point to 1,120.

However, the Chittagong Stock Exchange Selective Category Index CSCX moved down almost 37 points to 8,728.

Strong selling and buying pressure helped increase the turnover as the DSE turnover stood at over Tk5.76 billion, up 10% over the previous session.

New comer Yeakin Polymer continued to surge, adding about 10% to its previous two days rise of 234%. On its debut on Thursday, it jumped 218% on its offer value of Tk10 a share.

Most profit booking took place on non-banking financial institutions that soared 1.2%, followed by engineering 0.6% and pharmaceuticals 0.5%. Power sector remained flat in red.

The large cap sectors showed mixed performances. Food & allied posted the highest gain of almost 1%, followed by telecommunications 0.2%. Banks posted a marginal return of 0.15%.

Losers beat gainers as out of total 324 companies traded, 117 moved up, 165 down while 42 remained unchanged.

Yeakin Polymer was the most traded share with a turnover worth over Tk230 million.

It was followed by Mobil Jamuna Limited, Bangladesh, United Power Generation and Distribution Company Limited, GSP Finance, Lanka Bangla and National Housing Finance and Investment Limited.

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