Profit booking pulls major sectors down

Dhaka,  Fri,  22 September 2017
Published : 14 Apr 2017, 19:54:05 | Updated : 14 Apr 2017, 20:00:47
Sector-wise review on share market

Profit booking pulls major sectors down

Profit booking pulls major sectors down
FE Online Report
Major sectors witnessed sharp fall last week on the Dhaka bourse that ended on Thursday as cautious investors booked profit on quick-gaining stocks.

Of the 19 sectors listed on the Dhaka Stock Exchange (DSE), except corporate bonds, debenture and treasury bonds, the market capitalisation of 14 sectors closed lower while five managed to end positive, according to weekly analysis of DSE and the LankaBangla Securities.

Brokers said the cautious investors booked quick-gain on the issues from bank, non-bank financial institutions, pharmaceuticals, engineering, telecommunication and fuel and power sectors.

Of the major sectors – the heavyweight bank sector faced the highest erosion, losing 5.67 per cent, followed by non-bank financial institutions with 1.56 per cent, pharmaceuticals 1.33 per cent, engineering 1.49 per cent, telecommunication 1.28 per cent, fuel and power 1.18 per cent.

Among other sectors, services and real estate lost 2.57 per cent, followed by miscellaneous 2.02 per cent, insurance 1.60 per cent, ceramics 1.12 per cent, travel and leisure 0.83 per cent, cement 0.42 per cent, tannery 0.35 per cent and mutual fund 0.12 per cent.

The bank sector lost 5.67 per cent, the highest, as prices of 21 banks faced erosion, out of 30 listed banks.

Of the banks, Brac Bank was biggest loser, slumping by 18.93 per cent following its price adjustment after record date last week, followed by Trust Bank with 13 per cent, Islami Bank 9.20 per cent, Bank Asia 8.70 per cent, City Bank 8.50 per cent, Eastern Bank 8.20 per cent, AB Bank 5.80 per cent and Rupali Bank 5.20 per cent.

On the other hand, the paper and printing sector posted the highest gain of 6.04 per cent, followed by IT sector with 3.55 per cent, textile 3.35 per cent, food and allied 1.17 per cent.

Editor : A.H.M Moazzem Hossain
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