Stocks go down

20th June, 2019 10:54:32 printer

Country’s both the bourses, Dhaka and Chittagong Stock Exchanges ended the week with a downbeat in price and amount of transaction.

The capital bourse, Dhaka Stock Exchange (DSE) witnessed a modest session and closed in negative zone after a two-day gaining streak amid profit booking selling pressure, reports BSS.

Market displayed negative throughout the session as investors opted for book quick gain from their portfolio especially from insurance sectors along with some other large cap stocks that witnessed price appreciation in recent upbeat momentum, according to a market operator, EBL Securities.

The investors, however, remained cautious as they awaited the government move to review the proposed taxes on listed companies. Investors exerted selling pressures on large-cap stocks especially from Financial Institutions, Food and Allied and Telecommunication sectors.

Meanwhile, market turnover decreased and stood at Taka 4.5 billion and the core index reached 5,395.6 points with a loss of 15.8 points. Sector wise performance exposed that Jute (1.7 percent), Tannery (0.6 percent) and IT (0.4%) sectors experienced highest price appreciation today while General Insurance (-3.0%), Miscellaneous (-1.1 percent) and Financial Institutions (-1.0 percent) sectors experienced highest price correction in today’s session.

Investors’ attention was mostly concentrated on Textile (18.2 percent), General Insurance (13.3 percent) and Fuel and Power (10.5 percent) sectors. On the other hand, the port city, Chittagong Stock Exchange (CSE) closed in red zone Thursday. CSCX and CASPI decreased by 27.1 and 42.8 points respectively.