Dhaka, Bangladesh (BBN) - Dhaka stocks slipped on Wednesday amid fluctuation with lower turnover value as investors’ booked profit to minimize their losses.
Market analysts said that the market closed lower as investors’ took profit to minimize their losses as the market gained earlier four consecutive sessions.
The market opened with a mixed trend and negative note and lost 10 points within five minutes and the downtrend continued throughout the session and finally ended more than 69 points lower.
The benchmark general index of the DSE---DGEN, the yardstick of the market slipped 68.26 points or 1.45 percent to close at 4,700.24.
The broader All Shares Price Index (DSI) lost 55.53 points or 1.39 per cent to close at 3,934.75. The DSE-20 Index comprising blue-chip shares also declined 29.33 points or 0.79 per cent to close at 3661.87.
The losers took a strong lead over the gainers as out of 261 issues traded, 42 advanced, 207 declined and 12 remained unchanged.
Turnover value declined to BDT 4.78 billion, down by 16.96 percent compared to BDT 5.75 billion in the previous session.
A total of 95.01 million shares changed hands on the day against 125.06 million in the previous session. The trade deals also declined to 133,774 against Tuesday’s 155,550.
The total market capitalization of the DSE stood at BDT 2,444.96 billion against BDT 2,468.89 billion in the previous session.
Grameenphone (GP) topped turnover chart with shares worth BDT 265.10 million changing hands.
The other turnover leaders were Keya Cosmetics, Beximco Limited, Sumit Power, MI Cement, Jamuna Oil, United Airways, Confidence cement, MJL BD and Golden Son.
Confidence Cement was the day’s highest gainer posting a rise of 6.89 percent.
It was followed by MBL First Mutual Fund, Meghna Cement, IDLC, LankaBangla Finance, BRAC Bank Zero Coupon Bond, Singer BD, Apex Tannery, Union Capital and MI Cement.
The day’s worst losers included United Insurance, Safko Spinning, Sonargaon Textile, Rekitt Benkiser, BSRS Steels, Rahima Food, Beach Hatchery, Marico Bangladesh, RD Food and Shine Pukur Ceramics.
The Chittagong Stock Exchange (CSE) key index, CSCX, also showed similar trend and lost 127.09 points to close at 8684.08. The bourse gained 132.92 points and closed at 8811.17 on Tuesday.
BBN/SSR/AD-21Mar12-9:10 pm (BST)
