[ad_1]
The stock market plunged into a slump yesterday on the back of the trend of investor profit posting, with the insurance sector leading the way.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), fell 30.58 points, or 0.50 percent, to 6,036.
For all the latest news, follow The Daily Star’s Google News channel.
The turnover of the DSE, a key indicator of the market, fell by 22 percent to 2,062 crore Tk.
Some stocks fell as investors continued to take their profits, but this trend is quite positive for the market, according to one stockbroker.
“This is because when investors take profits, the market takes time to rise, giving others room to buy,” he said.
“This empowers the market, but the regulator needs to check if anyone is meddling in the market for their own benefit,” the broker added.
Most insurance stocks have fallen today, while they have risen more strongly in recent weeks. The sector was the most traded at around 303 crore Tk.
On the DSE, shares of 159 companies rose, 192 fell and 21 held steady.
Bangladesh Industrial Finance Company topped the list of winners, up 10 percent, followed by Paper Processing & Packaging Company, Bangladesh Monospool Paper Manufacturing and Shurwid Industries.
After returning to the Over the Counter (OTC) main market, Paper Processing and Bangladesh Monospool Paper were at the top of the winners list.
Beximco traded the most with Tk 218 crore, followed by Orion Pharmaceuticals, Fortune Shoes, Green Delta Insurance and LankaBangla Finance.
Dhaka Insurance lost the most, falling 11.49 percent, followed by GBB Power, Global Insurance, Bangladesh General Insurance and National Feed Mills.
The Chittagong Stock Exchange (CSE) also fell yesterday. The CASPI, the general index of the port city stock market, fell 56 points, or 0.32 percent, to 17,528.
Of the 322 shares traded, 144 rose, 156 fell and 22 remained flat.
[ad_2]
picture credit