Dhaka stocks fall flat amid profit taking sales

May 30, 2014

Dhaka stocks fell flat on Thursday with turnover remaining the same as the day before when a section of investors went on selling shares following last two days’ rise.
DSEX, the benchmark general index of Dhaka Stock Exchange, declined 0.01 per cent, or 0.50 points, to close at 4,430.47 points. Turnover of the bourse increased to Tk 323.30 crore on the day from that of Tk 321.20 crore in the previous session.
Losers outnumbered the gainers among the 293 issues traded on the day when 113 advanced, 126 declined and 54 remained unchanged.
Market operators said a section of investors went for selling shares on the day to make some quick profit as the market gained 52 points in last three trading sessions.
They said as the investors were shaky about the market so they were making short-term investments and cashing out with minimum profit in the available option.
The investors are worried about the budget of 2014-15 which is about to finalise in the next month beside a legal battle over mandatory shareholding rule of the securities regulator, they said.
DS30, blue-chips index of the bourse, declined by 0.21 per cent, or 3.50 points, to close at 1,609.26 points on Monday.
DSES, the DSE’s Shariah index, declined 0.04 per cent, or 0.45 points, to close at 992.82 points.
IDLC Investment in its daily market commentary said that profit booking rush set the index in a negative zone at the closing hours on Thursday.
‘Despite a gaining start, the market ended downbeat in the later half amid volatility. Besides, having two positive sessions of total 53 points gain, a natural profit booking took place, today,’ it said.
IDLC said BATBC which gained 4.60 per cent and Lafarge Surma Cement which gained 6.51 per cent were the big movers of the day.
Food and allied gained 3.41 per cent, cement 2.84 per cent while telecommunication declined by 1.26 per cent on the day.
Lafarge Surma Cement topped the turnover leaders on Thursday with its shares worth Tk 46.18 crore changing hands.
The other turnover leaders were Square Pharmaceuticals, Prime Bank, Heidelberg Cement, Mercantile Bank, Grameenphone, Olympic, ACI, Eastern Housing Ltd and BSRM Steel.

-With New Age input

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