Dhaka stocks fall as investors book profit

All of three indices of the Dhaka Stock Exchange (DSE) fell slightly yesterday as risk-averse investors went for a quick profit-booking and followed a cautious stance ahead of December-end earning declarations. 

The DSEX, the benchmark index of the top bourse in Bangladesh, edged down two points, or 0.03 per cent, to close at 6,214.

The DS30, the blue-chip index, slipped 0.11 per cent to 2,218 while the DSES, the shariah-compliant index, went down 0.14 per cent to 1,357.

However, turnover, a key indicator of the market, rose 7.6 per cent to Tk 452 crore. Of the securities, 68 advanced, 80 declined and 182 did not show any price movement.

"The indexes of the DSE slipped into the red after a two-day break as investors went for a quick profit-booking and followed cautious stance ahead of December-end earning declarations," said International Leasing Securities Ltd in its daily market analysis. 

The jittery investors are cautiously reshuffling their portfolios based on upcoming earnings expectations involving banks, non-bank financial institutions and insurance companies, said the brokerage house.

The general insurance sector rose 1.5 per cent, the life insurance sector was up 0.4 per cent and the tannery sector advanced 0.3 per cent.

The paper sector shed 2.4 per cent, the travel sector slipped 1.4 per cent and the jute sector declined 0.9 per cent.

Investors' activities were mainly focused on the IT sector, which accounted for 16.2 per cent of the day's total turnover. The life insurance sector represented 15 per cent of the turnover and the food sector 9.8 per cent.

Bangladesh General Insurance Company topped the gainers' list with a jump of 10 per cent. Usmania Glass Sheet Factory, Dhaka Insurance, Al-Haj Textile Mills, and Ambee Pharmaceuticals rose between 6 and 9.5 per cent.

Orion Infusion was the sharpest loser, shedding 6.3 per cent. Sonali Paper & Board Mills, JMI Hospital Requisite Manufacturing, Bashundhara Paper Mills, and ADN Telecom were among the major decliners.

Genex Infosys was the most-traded stock with its issues worth Tk 24 crore transacting, followed by Bangladesh Shipping Corporation, Shinepukur Ceramics, Olympic Industries, and ADN Telecom.

The Caspi, the all-share price index of the Chittagong Stock Exchange, went up 10 points, or 0.05 per cent, to close at 18,336.

Of the issues, 40 rose, 40 retreated and 58 did not see any price swing.

The turnover on the port city bourse increased more than three times to Tk 16.49 crore.