Short-term profit pushes stock market into red zone

FE Report | Published: May 09, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks returned to the red Thursday after three sessions positive trend with sluggish trading activities as investors were maintaining side-line strategies amid short-term profit taking attempt.
The market started with a positive note, but could not sustain as session progressed. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,555.11 points, shedding 20.39 points or 0.44 per cent.
The other two indices also closed into red. The DS30, comprising blue chips lost 11.78 points or 0.70 per cent to close at 1,666.00 points. The DSE Shariah Index (DSES) went down by 1.98 points or 0.19 per cent to close at 1,012.92 points.
Turnover value came down below Tk 3.50 billion again and amounted to Tk 3.48 billion which was 17 per cent lower compared to the previous session's value of Tk 4.19 billion.
"The investors' attempt to generate short-term profit pushed the country's stock market into red zone," commented International Leasing Securities, in its regular market analysis.
Some small sectors made gain whereas major sectors registered loss. Especially, performance of some particular large scrips - GP, BATBC, Square Pharma, Titas Gas and Renata were quite poor, said the International Leasing.
"Market opened green and rallied a bit intraday, but could not hold all gains till the end of the trading session," said LankaBangla Securities.
Throughout the week index followed range-bound strategies, while on the last trading day of this week market snapped some profit dragging the benchmark index around 4555 points, the stock broker said.
"Market resilience tumbled indicated by the volatility in index, which made investors cautious over the course of the trading session," it said.
Consistent demand supply situation in the money market helped to reduce the inflation by 2 basis points at the end of April, the stock broker added.
"The market demonstrated a mixed trading pattern, as the beginning enthusiasm sedated over time. Consequently, the bourse ended flat into the red again," said IDLC Investments.