Profit booking continues on Monno Ceramic shares

Monno Ceramic Industries topped the scrip-wise turnover chart for the second consecutive session on Monday due to investors' increased participation in the company's share.

Many investors offloaded the company's shares to take 'unrealised' profits amid the declining market trend.

On the day, the company registered a turnover of Tk 203.50 million, which was 6.8 per cent of the market share.

According to DSE information, the company's share price jumped to Tk 151.60 from Tk 90 each between January 17 and March 8.

"It's very natural that investors would book 'unrealised' profit if the market continues to decline, said a market operator.

"Monno Ceramic Industries recently witnessed tremendous price hike. That's why investors are offloading its shares to book profits amid continuous falling trend being observed in the market," said the chief operating officer of a brokerage firm.

On Monday, the company's share closed at Tk 135.30 each with a loss of 9.49 per cent or Tk 14.10.

Monno Ceramic Industries recently was placed in 'A' category from existing 'B' category with effect from February 05, 2018 as the company reported disbursement of 5 per cent cash dividend and 5 per cent stock dividend for the year ended on June 30, 2017.

Of the other top turnover leaders, Grameenphone featured a turnover of Tk 164.2 million, followed by Singer Bangladesh Tk 104.5 million and BRAC Bank Tk 92.3 million.

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