Dhaka stocks down on profit-taking
FE Report | Thursday, 26 June 2008
Dhaka stocks inched down Wednesday on profit taking, with increase in the turnover.
Trading on the Dhaka Stock Exchange (DSE), however, was in the positive territory for the first twenty minutes, pushing the key index up more than 24 points. Later, it started to slip into the red on profit taking and encashing funds for netting Titas scrips expected to make debut Sunday.
All the market barometers - the benchmark DSE General Index, All Shares Price Index (DSI) and DSE-20 Index (DS20) - lost 13.77 points, 6.15 points and 18.44 points to close at 3022.25, 2591.12 and 2521.14 respectively.
"After many sessions, the market portrayed maturity on the day," said a capital market analyst. The increased turnover proved that the investors, who remained frustrated due to the DSE's intervention, started to return to the market, he added.
Some investors booked profit while some encashed funds by selling their holdings for purchasing shares of state-run Titas, sending the market into the negative territory, according to the market operators.
The total turnover, however, increased to Tk 2.51 billion against the previous days' Tk 2.47 billion. The losers outshined the gainers as out of 226 issues traded, 81 advanced, 129 declined and 16 remained unchanged.
The total market capitalization also rose to Tk 931.93 billion against Tk 904.58 billion.
Trading on the Dhaka Stock Exchange (DSE), however, was in the positive territory for the first twenty minutes, pushing the key index up more than 24 points. Later, it started to slip into the red on profit taking and encashing funds for netting Titas scrips expected to make debut Sunday.
All the market barometers - the benchmark DSE General Index, All Shares Price Index (DSI) and DSE-20 Index (DS20) - lost 13.77 points, 6.15 points and 18.44 points to close at 3022.25, 2591.12 and 2521.14 respectively.
"After many sessions, the market portrayed maturity on the day," said a capital market analyst. The increased turnover proved that the investors, who remained frustrated due to the DSE's intervention, started to return to the market, he added.
Some investors booked profit while some encashed funds by selling their holdings for purchasing shares of state-run Titas, sending the market into the negative territory, according to the market operators.
The total turnover, however, increased to Tk 2.51 billion against the previous days' Tk 2.47 billion. The losers outshined the gainers as out of 226 issues traded, 81 advanced, 129 declined and 16 remained unchanged.
The total market capitalization also rose to Tk 931.93 billion against Tk 904.58 billion.