Stocks fall on profit booking
The currency markets witnessed a profit booking session yesterday, breaking a graining streak of eight consecutive days.
DSEX, the benchmark index of the Dhaka STOCK MARKET (DSE), fell 12 points, or 0.22 %, to stand at 5,485.86.
The prices of several stocks rose within the last couple of days, so investors went for a few profit yesterday, said Ali Xahangir, CEO of Amarstock.com, a currency markets analysis-based website which also trains investors.
"Up to now, the movement of the stock market looks good because investors are active here plus they are taking profit. So, each is going good."
Despite the deterioration of the pandemic, stocks rose within the last few days as much businesses committed to the currency markets taking benefit of the system to invest online from your home through the lockdown, he said.
A stock broker echoed the same, saying some investors booked profits because so many stocks rose 10 to 15 per cent in the last couple of days.
This is an excellent sign, because whenever an investor books profit, they get confidence to invest more, he said.
Moreover, turnover of the marketplace increased simultaneously thanks to the bigger participation of investors.
However, the DSE's turnover, an essential indicator of the market, surged around 1 % to Tk 1,195 crore.
AFC Agro Biotech topped the gainers' list, rising 10 per cent, accompanied by Anwar Galvanizing, National Feed Mills, Olympic Accessories and Esquire Knit Composite.
Stocks of Beximco traded the most with Tk 138 crore worth of shares changing hands accompanied by LafargeHolcim Bangladesh, Beximco Pharmaceuticals, GBB Power and BD Finance.
Prime Bank shed the most with an 8.76 % drop accompanied by Purabi General Insurance, Takaful Islami Insurance, Peoples Insurance, and Desh General Insurance.
At the DSE, 102 stocks advanced, 191 declined and 62 remained unchanged.
The Chittagong Stock Exchange also fell yesterday. The CASPI, the overall index of the port city bourse, fell 38 points, or 0.24 %, to stand at 15,828.
Among 255 traded stocks, 73 rose, 134 fell and 48 remained unchanged, CSE data shows.
