FE Report

Dhaka stocks fell slightly Wednesday in higher trade after a rise in the previous session.

The benchmark DSE General Index (DGEN) closed at 3001.60 with a meager loss of 3.15 points or 0.10 per cent, erasing early gains of more than 15 points.

After an initial jump, the market remained mostly steady and fluctuated within a range of four points before it plunged into the red zone at the close.

The broader All Shares Price Index (DSI) lost 3.15 points or 0.12 per cent to end at 2521.82. The DSE-20 (DS20) blue chip index shed 13.85 points or 0.64 per cent to finish at 2122.31.

The turnover continued to increase and stood at Tk 6.17 billion, an increase of 3.3 per cent from the previous session's Tk 5.97 billion.

Losers beat gainers as out of 233 issues traded, 88 gained, 138 declined and six remained unchanged.

"The pulse of the market is normal," said Arif Khan, deputy managing director of the IDLC Finance Ltd.

"During the holy month of Ramadan, the market usually remains slow because of the cut in trading time by half an hour," he added.

The investors were in upbeat mood as the biggest issue Grameenphone will hit the market soon.

Banking sector, the bellwether of the market, declined for sixth consecutive trading session and the sectoral turnover was decreasing as well.

The non-banking financial institutions (NBFIs) continued to gain with high turnover riding on the news that Bangladesh Bank will ask NBFIs to double their paid up capital by next year under BASEL II framework.