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Stocks fall marginally amid profit booking

Staff Correspondent
12 Jul 2021 21:23:36 | Update: 12 Jul 2021 21:25:08
Stocks fall marginally amid profit booking

Indices witnessed mixed performance on higher transactions on Monday as a section of investors opted for profit booking on quick gaining issues head of Eid-ul-Azha and amid the rising trend of coronavirus infections and deaths.

DSEX, the key index of Dhaka Stock Exchange (DSE) went down marginally by 0.07 per cent or 4.4 points, to settle at 6,208 points.

Among major sectors, Miscellaneous, Life Insurance and NBFI sectors experienced price appreciation while General Insurance, Services & Real Estate and IT sectors saw correction.

Turnover, however, increased by 7.19 per cent to Tk 1599 crore. Textile sector dominated the turnover chart covering 14.87 per cent of the total amount.

Of the issues traded, 186 declined, 159 advanced, 27 remained unchanged on the Dhaka bourse.

Meanwhile, the newly listed Sonali Life Insurance soared by 440.6 per cent and its market cap stood at Tk 760 million during the day’s trading as there was no price limit on the company's shares following its corporate declaration.

International Leasing Securities Limited in its daily market commentary said that the market began today’s session in red amid profit booking sell-off by investors. As a result, the benchmark index closed in red despite some weak signs of intraday reversal.

It also said that sell pressure in general insurance, bank, cement and engineering sectors pushed down the benchmark index where the optimistic investors remained buoyant on the miscellaneous, life insurance, financial institution, pharma and telecom sectors.

EBL Securities Limited in its daily market commentary said that due to the continuous rise in prices of shares, the hyped-up general insurance sector is experiencing consecutive corrections. However, the possibility of a relaxed lockdown ahead of Eid vacation can impact the market momentum positively.

At the day's end, DSES and DS30 added 5.27 points and 10.84 points respectively to their previous day’s level.

The port city bourse, CSE, however, ended in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 18.0 points and 38.7 points respectively.

Of the issues traded, 147 declined, 130 advanced, 29 remained unchanged on the CSE.

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