Stocks slip back into losses

Dhaka stocks treaded back into the red yesterday, driven by the profit-taking sales of shares that capped a two-day rally.

Shares of most companies that gained over the previous few days traded down on the Dhaka Stock Exchange (DSE).

Some analysts however said investors' shakiness and confusion about the market were the reason behind bearish trade.

“Despite having interest in the market, the investors are still in confusion. Their confidence is running low,” said Yawer Sayeed, managing director of AIMS of Bangladesh.

The benchmark index, DSE General Index, fell 26.12 points, or 0.97 percent, to 2,662.04 points. The DSE All Share Price Index also declined 21.79 points, or 0.97 percent, to 2,202.72 points.

Although the market started positively by gaining about 7 points in opening trade, it soon started sliding. By the 60-minute mark, the net loss of the day stood at about eight points.

In the next 45 minutes, the market gained around 13 points. Later, DGEN traded down for the rest of the day.

Of the 254 traded securities on the DSE, 66 advanced, 181 declined and seven remained unchanged.

A total of 2,45,94,615 shares worth Tk 283.01 crore changed hands on the premier bourse.

Beximco Pharma topped the turnover leaders on the DSE with 21,40,650 traded shares worth Tk 36.05 crore. The other turnover leaders were Beximco, Shinepukur Ceramics, Summit Power, British American Tobacco, AIMS 1st Mutual Fund, Summit Alliance Port, Aftab Automobiles, Grameen Mutual Fund One: Scheme Two and BSRM Steels.

Chittagong stocks also recorded a fall. The CSE Selective Categories Index dropped 50.25 points, or 0.93 percent, to 5,320.2 points. The CSE All Share Price Index also slid 72.26 points, or 0.87 percent, to 8,181.04 points.

A total of 42,78,052 shares worth Tk 35.38 crore changed hands on the Chittagong Stock Exchange. Of the 151 traded scrips on the port city bourse, 38 advanced, 109 declined and four remain unchanged.

Beximco Pharma topped the turnover leaders on the CSE with 2,51,750 traded shares worth Tk 4.22 crore. The other turnover leaders were Beximco, Shinepukur Ceramics, AIMS 1st Mutual Fund, BSRM Steels, Grameen Mutual Fund One: Scheme Two, Summit Power, Titas Gas, Eastern Housing and AB Bank.