Stocks edged lower Monday as late profit taking selling pressure cut early sharp gains.

The benchmark DSE General Index (DGEN), the market’s main gauge, closed at 4548.89 with a slight fall of 16.82 points, chipping away gains of 134.21 points seen in the previous session. The broader All Shares Price Index (DSI) lost 8.78 points or 0.22 per cent to 3857. But the DSE-20 Index comprising blue chips shares gained 9.82 points or 0.27 per cent to 3528.86.

Chittagong Stock Exchange Selective Categories Index, CSCX, was down 38.92 points to 8853.36.
Losers took a marginal lead over the winners as out of 276 issues traded, 108 closed positive, 154 negative and 14 remained unchanged.

The market started with high note, gaining more than 64 points. However, as the session progressed, sell pressure wiped out the early hour gain. The market paused on the day as investors were concentrated to profit booking and cautious movement.

Most profit booking took place on general insurance and financial institutions that shed 2.43 per cent and 2.13 per cent respectively.

Cement sector was the major exception with a rise of 4.48 per cent.

The market was a bit slower than the previous session as investors were on selling mood rather than buying. 
Turnover in value stood at Tk 9.51 billion, down 16 per cent from Sunday’s Tk 11.36 billion-- the second highest single day turnover since April 15 this year.

The state owned Titas Gas continued to top the turnover chart for the sixth straight sessions with shares worth Tk 520.27 million changed hands. The other turnover leaders were United Airways, RN Spinning, Bangladesh Submarine Cable Company, MI Cement, Unique Hotel, Jamuna Oil and National Bank.

Grameen Scheme One was the day’s top gainer posting a rise of 9.88 per cent followed by First Prime Mutual Fund, Bangas, HR Textile, DBH First Mutual Fund, BSRM Steel and Saiham Cotton.

The day’s worst losers included Islamic Finance, National Polymer, Unique Hotel, Delta Spinning and Takaful Insurance.

News: The Daily Independent/Bangladesh/18-Sep-12