Stocks decline on profit-taking

Dhaka stocks fell on Thursday as investors booked profits following a record in a transaction in the previous session.

The profit-booking pulled down all the sectors apart from IT and engineering sectors.

The benchmark DSEX index lost 60 points or 1% to settle at 5,813.

Other indices, the Shariah-based DSES index saw a fall of 9 points or 0.74% to 1,272 and the blue-chip DS30 index was down over 22 points or 1% to 2,178.

All the large-cap sectors posted negative performance except. The NBFI sector experienced the highest loss of 2.32%, ending the rally over the weeks.

The banking stocks fell 1.85% on profit-booking, followed by food and allied (-0.91%), pharmaceutical (-0.78%), telecommunication (-0.78%), and fuel and power (-0.30%).

The turnover dropped by 21% to Tk 1,652 crore from the previous session’s Tk 2,099 crore. Block trades contributed 11.6% of the overall market turnover.

Provati Insurance was the biggest gainer hitting the upper limit circuit breaker, followed by Asia Insurance, Index Agro Industries, Generation Next, Pioneer Insurance and AB Bank.

Miracle Industries was the worst loser falling 8%, followed by Prime Bank, Prime Life Insurance, Meghna Condensed Milk, Eastern Insurance and Karnaphuli Insurance.

The most traded stocks included Beximco, LankaBangla Finance, Prime Bank, NRBC Bank, SAIF Powertec and National Feed Mills.