Dhaka stocks drop on profit-taking

Dhaka stocks dropped on Monday because of a profit-taking selling pressure from investors in volatile trading after a six-day bull run, market operators said.
The general index of Dhaka Stock Exchange lost 36.32 points, or 1.28 per cent, to close at 2808.45, while its blue chips index, DSE20, shed 27.16 points, or 1.16 per cent, to finish at 2311.59. As of Sunday, the DSE general index gained 246.66 points due to a rise in share prices for six consecutive trading days.
A DSE stockbroker said the market witnessed a profit-taking selling spree of investors. Starting with an upbeat mood, the market finished down because of the selling pressure in the late trading, he said.
Of the total 242 issues traded, 96 advanced, 136 declined, and 10 remained unchanged.
Turnover at the DSE, however, increased to Tk 464.22 crore from the Sunday’s Tk 446.74 crore.
Shinepukur Ceramics topped the turnover leaders with a total transaction of Tk 48.38 crore.
Titas Gas, Summit Power, Beximco Pharmaceuticals, ACI Formulations, Grameen Two Mutual Fund, Beximco, Aims 1st Mutual Fund, National Bank, and Uttara Bank were the rest of the day’s top 10 turnover leaders.
Chittagong stocks also dropped on Monday.
The selective categories index of Chittagong Stock Exchange lost 59.66 points, or 1.05 per cent, to close at 5646.83, while its blue chips index, CSE30, shed 61.26 points, or 0.82 per cent, to finish at 7440.26.
Of the total 158 issues traded on the CSE floor, 55 posted gains, 100 dropped, and three remained unchanged.
Turnover at the CSE, however, went up to Tk 75.02 crore from the Sunday’s Tk 66.28 crore.