Islami Bank pulls down Dhaka stocks

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Dhaka stocks slipped for the third straight session Wednesday due mainly to price adjustment of Islami Bank Bangladesh Limited that went ex-dividend.

All the market barometers- Dhaka Stock Exchange (DSE) General Index (DGEN), All Shares Price Index (DSI) and DS 20, comprising blue chips, -- shed 24.57 points, 22.60 points and 85.19 points to close at 2801.42, 2426.07 and 2558.86 respectively.

Fall in share prices of Islami Bank pulled down the market on the day as the indices of the prime bourse was adjusted due to price adjustment of the heavy weight bank after corporate profits, according to the market operators.

Stock prices of the Islami Bank were the biggest losers with a fall of 19.58 per cent to close at Tk 6436.75 per share, making it the ninth top turnover leaders with shares worth Tk 86.53 million changing hands.

Stocks disposed off by the institutional investors, considered major market players, to book profit also affected the market in the last three days, said a source in the DSE.

The losers outperformed the gainers as out of 232 issues traded on the day, 133 declined, 86 advanced and 13 remained unchanged.