Dhaka, Bangladesh (BBN)– Dhaka stocks fell sharply on profit booking on Tuesday, after steep rally in the two consecutive days.
The benchmark index, DGEN, was down by 216 points or 3.38 per cent to 6173.38, after hitting highest 6518.41 in the morning and lowest 6150.21 in final minutes.
The market opened with positive tone with fluctuation in early trading but profit booking selling pressure came in midsession has sent the market into negative territory, said dealers.
Some, however, said the investors still feel doubt about the market’s stability as their confidence is yet to fully gain despite the government’s effort to save the market.
Turnover improved as it stood at Tk 8.90 billion, up by 66.7 per cent over the previous session. Out of 252 issues traded, 28 gained and 224 lost.
All sectors closed in the negative territory except non-banking financial institutions that gained 0.86 per cent on expectation of dividend declaration.
But the major sectors– banks, telecommunications, pharmaceuticals and energy declined 4.29 per cent, 4.42 per cent, 3.46 per cent and 4.75 per cent respectively.
Southeast Bank was the highest loser of 10.57 per cent as its corporate declarations failed to satisfy investors’ appetite.
The bank announced 20 per cent stock dividend and 10 per cent cash dividend for the year 2010.
National Bank Ltd (NBL) was the top turnover leader with shares worth Tk 684.19 million changing hands. It was followed by Peoples Leasing, Beximco Ltd, Bay Leasing, Union Capital, Southeast Bank, ILFSL, Grameenphone, Prime Bank an United Commercial Bank.
BBN/KMS/SI/AD-22Feb11-10:30 pm (BST)
