Stocks fall after six-day rally

Stocks fell today after rising for six consecutive days.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), edged down 10 points, or 0.15 per cent, to 6,617.

Many investors booked profits as they saw the index to hit historical high, thus higher price of many stocks, said a top official of a stock brokerage firm.

The profit booking tendency was the reason of today's fall, he said. "This is normal for the stock market."

However, many investors were there to buy stocks in the market, which saved the index to experience a big fall, he added.

Turnover, an important indicator of the market, dropped 3 per cent to Tk 2,840 crore. At the DSE, 137 stocks advanced, 223 fell and 15 remained unchanged.

National Housing Finance and Investments topped the gainers' list that rose 10 per cent on the DSE followed by Meghna Pet Industries, Tallu Spinning, Usmania Glass, and Islamic Finance.

Stocks of Beximco Ltd was traded highest that worth Tk 167 crore followed IFIC Bank, LafargeHolcim Bangladesh, Orion Pharmaceuticals and Appollo Ispat.

Dacca Dyeing shed mostly that lost 8.61 per cent followed by Emerald Oil, Golden Harvest, AFC Agro Biotech and Beacon Pharmaceuticals.

The Chittagong Stock Exchange (CSE) also dropped today. The CASPI, the general index of the port city bourse, fell 7 points, or 0.04 per cent, to 19,281.

Among the traded 330 stocks, 132 rose, 181 fell and 17 remained unchanged.