Profit takers, optimistic investors rule the roost

Bangladesh's stock market has been going through ups and downs thanks to an ongoing "psychological game'' between profit takers and optimistic investors.

"If the market index rises one day, it drops the next," a stock broker said.

This trend has continued for the last few weeks due to the psychological game among profit takers and their more optimistic counterparts.

"And whichever party proves stronger will dictate the index trend for the coming days," he said, adding that many investors have adopted a wait-and-see approach considering the current situation.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 13 points, or 0.18 per cent, to 7,237 points yesterday.

However, turnover at the Dhaka bourse rose 22 per cent to Tk 2,259 crore while it was Tk 1,852 crore a day earlier.

Aamra Networks topped the gainers' list, rising 9.92 per cent, followed by Tosrifa Industries, Khan Brothers PP Woven Bag Industries, Evince Textiles, and Zaheen Spinning Mills.

CVO Petrochemical Industries shed the most, falling 4.21 per cent, followed by Fu-Wang Ceramic Industries, Dominage Steel, Daffodil Computers, and Safko Spinning Mills.

At the DSE, 113 stocks rose, 230 declined and 33 remained unchanged.

Stocks of Orion Pharmaceuticals traded the most, worth Tk 142 crore, followed by Beximco Limited, LafargeHolcim Bangladesh, Shahjibazar Power and Delta Life Insurance.

The Chattogram Stock Exchange (CSE) edged down on the day, while the CASPI, the general index of the port city bourse, dropped 19 points, or 0.09 per cent, to 21,126.

Among 317 traded stocks, 113 advanced, 172 fell and 32 remained unchanged.