Stocks end week lower on profit-taking
BSS
Stock market closed the week in red, with the broader indices at Dhaka and Chittagong stock exchanges ending lower on profit-taking selling, reports BSS.
DSEX, the broader index of Dhaka Stock Exchange (DSE), lost 7.76 points to 4519.85 when the blue-chip DS30 finished 3.45 points lower at 1741.62 and the Shariah DSES ended 2.51 points lower at 1101.66.
It was a choppy trade on DSE on the last day of this week. Market opened marginally higher in the first hour but washed out those gain straightaway in afternoon trading, dragged by bank, cement and telco stocks. Economic factors also kept sentiment under check. Selling spree was active on large cap stocks, while small cap sector managed to end green, Lanka Bangla Securities Limited said.
The week began in downward, but maintained a bullish trend in three consecutive sessions before returning to the negative territory to close the week yesterday.
The market saw profit-taking selling at the last trading session, plummeting prices of 141 securities with Samata Leather, Paramount Insurance, Shurwid Industries and United Air among the top five.
Among 312 issues traded, 129 closed marginally higher when the top five advancing securities were Hakkani Publisher, Anwar Galvanizing, Monno Ceramic, National Tubes and Prime Life.
United topped the turnover list followed by Ifad Autos, BSRM Limited, Beximco and KPCL. The daily turnover in value declined to Tk 406 crore from Wednesdays Tk 447 crore as majority of the issues traded ended lower. The turnover volume, however, rose marginally to 11.29 crore shares from 11.22 crore or previous session.
Chittagong Stock Exchange (DSE) finished the week lower while its broader CSCX index closed 10.35 points down at 8458.62.
Out of traded 240 issues, 117 incurred loss and 94 declined when 11.10 crore shares worth Tk 31.84 crore changed hands.
