FE Report

Dhaka stocks fell on price correction Thursday, led by insurance companies, non-banking financial institutions, mutual funds and most of the banking issues.

The Dhaka Stock Exchange (DSE) opened on a positive note but trimmed the early gain of 25 points on price correction that pulled most of the banking issues lower.

However, a spurt in buying issues of the power, energy, service and real state sectors helped the indices avert further slide.

The DSE General Index (DGEN) - the benchmark index- finished at 2596.66 with a loss of 14.88 points. The All Shares Price Index (DSI) and the DSE-20 blue chip index shed 14.61 points and 27.12 points to end at 2150.65 and 2014.04 respectively.

Most of the sectors including banks lost on profit taking, but the strong performance by the fuel and power sectors also helped reduce the loss, according to the research cell of the Equity Partners Ltd (EPL), an investment bank.

Out of 242 issues traded, 64 advanced, 174 declined and four remained unchanged.

The turnover increased slightly to Tk 4.78 billion against Tk 4.56 billion of Wednesday while the market capitalisation was Tk 1.04 trillion.

Summit Power continued to retain the top turnover position with shares worth Tk 521.49 million traded.

The next other turnover leaders were Social Investment Bank, Beximco, AB Bank, Uttara Bank, Titas Gas, Summit Alliance Port Ltd, Standard Bank, Aftab Automobiles and Southeast Bank.

Of the pharmaceutical companies, Square Pharma lost 1.0 per cent, Beximco Pharma 2.6 per cent, ACI 1.3 per cent and ACI Formulations 0.8 per cent.

The top gainers were Standard Bank, Premier Bank, Summit Power, Summit Alliance Port Ltd, Social Investment Bank Ltd, Monno Stafflers, Reliance Insurance and Hakkani Pulp and Paper.