DSEX falls for 2nd straight day as profit-booking continues

In choppy trade, the benchmark DSEX declined on Monday as investors booked profits mostly in the bank and financial institution shares.

At close, it shed over 63 points or 0.89 per cent to 7,022, touching the day’s high of 7,096 and low of 7,019. It lost 70 points in the previous two sessions.

The Shariah-based index slipped 4 points or 0.29 per cent to 1,470 while the blue-chip comprising DS30 index shed 16 points or 0.62 per cent to 2,666.

“Investors are trading watchful ahead of year-end closing. Profit-booking was seen in the market as some sectors such as financials closed higher in the two previous sessions. So, investors preferred to stay cautious at the levels,” said a leading broker.

The trading activities decreased as the turnover stood at Tk 1,226 crore, down over 31 per cent from the previous session’s Tk 1,786 core.

Banking sector experienced the highest loss of 2.9 per cent, dragged down by Dutch Bangla Bank declining more than 5 per cent. The loss halted its winning streak over the last two sessions.

Among other sectoral indices, NBFI index fell 1.7 per cent, food and allied 1.55 per cent, engineering 0.36 per cent, and pharmaceutical 0.03 per cent.

However, the telecommunication index rose marginally 0.16 per cent, and fuel and power 0.22 per cent.

Newly listed Sena Kalyan Insurance Company continued to rally for the ninth straight session with a rise of 9.96 per cent to almost Tk 31, making it the largest gainer of the day.

Another newly listed Acme Pesticides—the agricultural product input makers and distributors---also continued to rise for the eighth consecutive soaring 9.65 per cent to Tk 19.3. It was the second-largest gainer of the day.

Kohinoor Chemicals Company was the worst loser declining over 12 per cent due to the price adjustment after the record date. Regent Textile Mills was the second-worst loser as it offered no dividend for the year ended on June 30, 2021.

Mithun Knitting shares continued to dip since the news that it received a letter from Bangladesh Export Processing Zone Authority (BEPZA) to sell the factory building, machinery and all other assets of the company for realizing outstanding dues payable to the workers, BEPZA and customs.

One Bank was the most traded stock, followed by IFIC Bank, NRBC Bank, Fortune Shoes, Paramount Textile, Orion Pharma, and Delta Life Insurance.