FE Report
Dhaka stocks edged down Wednesday as investors are locked in profits amid a subdued tone of trading, but losses were curtailed supported by leasing, insurers and mutual funds.
The market opened positively, gaining 40 points in the morning but it went in the red one hour before close as the major sectors -- telecommunications, energy and banking stocks -- lost ground on profit taking.
The DSE General Index (DGEN), the main gauge of the market, inched down by 0.19 per cent or 12.17 points to close at 6140.20, after hitting highest 6194.95 in the morning and lowest 6138.68 just before the close.
The broader All Shares Price Index (DSI) shed 0.21 per cent or 10.85 points to 5056.55. The DSE 20 index comprising blue chip shares gained slightly 0.19 per cent or 12.17 points to 6140.20.
Grameenphone, the lone listed company in telecommunications sector and most weighted shares in DSE, declined 0.82 per cent to Tk 278.80 after rising 1.70 per cent in the previous session.
Banking sector -- accounting for one-fourth of the DSE's market capitalisation -- ended marginally lower. Among the banks, ICB Islamic Bank was the biggest loser falling 3.78 per cent after the securities regulator formed a body to probe its recent unusual share price hike.
Some of the banks, however, ended positive. Rupali Bank, the state-owned bank, had the highest gain of 5.02 per cent.
The fuel and power dropped 1.40 per cent, ending its fourth consecutive session of winning run. But DESCO gained 1.43 per cent.
Leasing or non-banking financial institutions rose for the fifth straight session, advancing 1.30 per cent. Mutual funds sector moved up 1.33 per cent. Pharmaceuticals sector closed flat while insurers ended negative.
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