Investors go for short-term profit booking

FE Report | Published: March 02, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks slipped into the red again Sunday as investors went for short-term profit booking amid no improvement in the political front.
The market opened with a positive note, but could not sustain as the session progressed. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 23.56 points or 0.49 per cent to close at 4,739.65 points.
The two other indices also closed in the red zone. The DS30 index, comprising blue chips lost 13.63 points or 0.76 per cent to close at 1,758.78 points. The DSE Shariah Index (DSES) shed 8.24 points or 0.72 per cent to close at 1,122.67 points.
Turnover on DSE crossed Tk 3.0 billion-mark once again and amounted to Tk 3.36 billion, registering an increase of 13.7 per cent over the over the previous session's value of Tk 2.96 billion.
A number of banks declared dividend and year-end earnings; consequently the investors' attention was mostly focused on banks - the sector accounted for 12.7 per cent of the day's total turnover followed by engineering 12.5 per cent and power 12.2 per cent.
"The short-term profit booking tendency of the market participants created the selling spree, which sustained throughout the session," International Leasing Securities said in an analysis.
However, turnover increased by 13.7 per cent from the previous session as driven by investors' panicky selling preferences, said the International Leasing.
LankaBangla Securities said: "Benchmark index eroded previous day's gain as political outlook of the country still remains bleak and investors went for profit booking".
However, listed multinational companies maintained their payout policy in 2014 as reflected by the corporate declarations which hit on the screen in early morning, said the stock broker.
IDLC Investments said: "Market continued the downturn as long-term outlook became bleak for investors due to ongoing political unrest".
Most of the major sectors ended flat, with banking and telecommunication stocks gaining 0.11 per cent and 0.09 per cent market capitalization respectively. Food and allied and power advanced by 0.19 per cent and 0.16 per cent respectively.
Cement sector lost 2.95 per cent as Lafarge Surma Cement, the top weighted stock of the sector, lost 5.2 per cent alone. NBFIs also went down by 1.53 per cent. Pharmaceuticals closed lower by 0.34 per cent.
The losers took a modest lead over the gainers as out of 309 issues traded, 188 declined, 86 advanced and 35 remained unchanged on the DSE floor.
Activities increased in the major bourse where volume and trade were up 16.83 per cent and 14.59 per cent respectively. A total number of 0.093 million trades were executed with trading volume of 72.94 million securities.
The market capitalisation on DSE stood at Tk 3,210.31 billion against Tk 3,217.18 billion in the previous session.
The port city bourse, Chittagong Stock Exchange (CSE) also closed slightly lower with its Selective Categories Index - CSCX - lost 4.01 points to close at 8,850.40 points.
Losers beat 154 to 50, with 22 issues remaining unchanged at the port city bourse that traded 11.92 million shares and mutual fund units, turnover value of Tk 397.12 million.
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