DSE declines on profit taking

Dhaka stocks declined on prices correction on Tuesday as investors went on profit booking.

 

 “The bourse passed a session of natural correction after last four consecutive sessions’ rally, though DGEN gained by 169 points during last four sessions, turnover kept at the low level, Tk 1887 million,” said IDLC Investment in its regular market analysis.

 

“Unsatisfactory turnover level made investors puzzled about short term upside, prompting them to realize profit, especially in the Banking sector. Consequently, 25 out of the total 30 scripts of the sector closed red, said IDLC Investment in its regular market analysis.

 

On the other hand, IPO hype again got active as Envoy Textile and Generation Textile occupied 14.88 percent of total turnover and contributed positively to the market it added.

 

The benchmark general index, DGEN lost 1.02 percent or 42 points to close at 4,135 points.

 

The All Share Price Index, DSI plunged 37 points or 1.03 percent to close at 3,499 points while the DSE-20 index including blue chips shares declined 17 points or 0.49 percent to close at 3,431 points.

 

Out of 264issues traded 40 advanced, 200 declined and 24 remained unchanged.

 

All the major sectors posted losses. Banks lost -1.50 percent followed by non-banking financial institutions 1.23 percent, power 0.80 percent, Telecommunications 0.62 percent and Pharmaceuticals 0.39 percent.

 

Today’s total turnover value stood at Tk 2.0 billion, going down by 7.4 percent from the previous trading session. 

 

Envoy Textiles up by 9.9 percent topped both the gainers and the most traded shares chart with a total turnover of Tk 183.2 million.