Profit-taking sends stocks slipping for third day

October 8, 2012

Stocks slid for the third day in a row as investors continued with their selling spree to pocket profits.
DGEN, the benchmark General Index of Dhaka Stock Exchange, finished the day with 4,542.64 points, after declining 103.43 points or 2.22 percent.
The day, however, started on a positive note, with the market gaining 44 points in the first 30 minutes.
The turnover then took a turn for the worse, with selling pressure dominating the rest of the session.
“Profit-taking is causing an intermittent correction,” said LankaBangla Securities, the top broker in Bangladesh.
Turnover declined by 20.94 percent overnight to Tk 524 crore. The last two days saw the turnover fall by Tk 520 crore or 50 percent, noted IDLC Investments, a leading merchant bank.

-With The Daily Star input

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