Stocks fall breaking a four-day gaining streak

The indices of Bangladesh's stock markets fell today thanks to the profit-taking investors, snapping a four-day gaining streak since the formation of an interim government.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), slumped 83.63 points, or 1.39 percent, from the previous day before closing at 5,932.28.

Two other indices at the country's premier bourse also declined.

The DSES, the index for the shariah-based firms, slipping 14.46 points, or 1.12 percent to 1,270.81 and the DS30, the index that represents blue-chip companies, losing 30.82 points, or 1.41 percent to 2,153.54.

The turnover decreased 43.14 percent from the previous day before closing at Tk 1,143 crore.

Banking sector dominated the turnover chart, accounting for 22.72 percent of the day's total market turnover.

Grameenphone was the most traded share with a turnover of Tk 113.1 crore.

Shares of 53 companies advanced, 337 declined and 16 remained unchanged on the trading floor of the DSE.

Fareast Finance & Investment topped the gainers' list with a rise of 10.87 percent.

Ring Shine Textiles, Atlas Bangladesh, Pragati Life Insurance, Islamic Finance & Investment and The Dacca Dyeing & Manufacturing Company also fared well.

Social Islami Bank, Keya Cosmetics, Appollo Ispat Complex, AB Bank and First Finance were also on the gainers' chart.

Central Pharmaceuticals and SBAC Bank shed the most, losing combinedly 6 percent.

Bangas Ltd, Monno Ceramic Industries, Islami Insurance Bangladesh, Beximco Pharmaceuticals, Rangpur Foundry suffered losses.

Oimex Electrode, Aziz Pipes, Kay & Que Bangladesh, The IBN SINA Pharmaceutical Industry and Libra Infusions were also on the losers' chart.

Telecom and life insurance were the only two sectors that closed on a positive note today while ceramics, services & real estate and engineering were the top three sectors that closed in the negative territory.

Negative performance was posted by most of the large-cap sectors, according to BRAC EPL Stock Brokerage.

Engineering experienced the highest loss of 2.66 percent, followed by fuel & power 2.38 percent, non-banking financial institutions 2.05 percent, pharmaceuticals 1.57 percent, bank 1.41 percent, food & allied 1.31 percent and telecommunication 2.77 percent respectively.

Shares of large-cap and blue-chip stocks such as Islami Bank Bangladesh, Grameenphone, IFIC Bank, Robi Axiata, Keya Cosmetics, Pragati Life Insurance, United Commercial Bank, Delta Life Insurance and Unilever Consumer Care performed well.

Today, none of them recorded double-digit growth.

However, Islami Bank Bangladesh and Grameenphone logged the highest growth, rising 6.68 percent and 6.16 percent respectively, according to the website of LankaBangla Financial.

Square Pharmaceuticals, BAT Bangladesh, BRAC Bank, Beximco Pharmaceuticals, Eastern Bank, Renata, LafargeHolcim Bangladesh, City Bank, Pubali Bank and Beacon Pharmaceuticals displayed lacklustre performance in index movers.

The Chittagong Stock Exchange also saw a similar downward trend as the All-Share Price Index of the port city bourse went down by 124.91 points, or 0.72 percent, to settle at 17,157.55.