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Stocks slip on profit booking


Published : 21 Jun 2019 09:02 PM | Updated : 07 Sep 2020 05:16 PM

The country’s stocks dipped last week largely on profit-taking by investors. Market analysts said many of the investors seeking to remain on the side-line by taking cautious stance as they awaited the government move to review the proposed tax measures for listed companies. They said investors have adjusted to book quick gains from their portfolio in the first week after Eid vacation, especially from insurance sectors, which pushed the market down in recent week.
The prime index of Dhaka Stock Exchange went down by 78.68 points or 1.44 percent during the week to settle at 5,395.63 on Thursday.

Meanwhile, the blue chips index (DS30) slummed by 10.70 points during the week to close at 1,894.39 on Thursday and Shariah index (DSES) dropped 10.78 points to finish at 1,233.28 in span of one week. The losers beat over the gainers as out of 354 issues traded, 226 closed lower, 102 higher and 26 remained unchanged on the DSE floor.

The market capitalisation of the DSE has dropped by 1.05 percent to Tk 3,978.77 billion as against Tk 4,021.14 billion on first working day of the week.
United Power has dominated on the floor of DSE and became the top the week’s turnover chart. Market data show, 2,579,256 shares of the United Power were traded on the floor of the Dhaka Stock Exchange (DSE) during the week and its market value stood at almost Tk 953.19 million on the week.

It was followed by JMI Syringes & Medical Devices Limited with Tk 700 million, Eastern Insurance Company Limited Tk 480 million, Dragon Sweater and Spinning Limited Tk 473 million and New Line Clothings Limited Tk 459 million. Eastern Insurance Company Limited was the week's best performer, posting a gain of 17.40, whereas, First Finance Limited was the week's worst loser, slumped by 26.79 percent.

The daily average turnover stood at Tk 5.19 billion, which was 5.47 percent lower than the previous week's average of Tk 4.92 billion. On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) also saw negative trend during the last week with its selective category index (CSCX) losing 1.44 percent to close at 10,011 points.

All-Share Price Index (CASPI) of the CSE was lower by almost 1.44 percent on Thursday to close at 16,522.94 points. At the CSE, a total of 302 issues were traded. Among them, 99 closed higher, 188 ended lower and 15 remained unchanged. However, the number of shares transacted on the floor of the CSE was 57.03 million and the total turnover in value was Tk 1.83 billion during the last week.