Investors book profit on sector-specific issues

Dhaka,  Sun,  24 September 2017
Published : 16 Aug 2017, 21:44:02

Investors book profit on sector-specific issues

FE Report

The Dhaka bourse faced correction Wednesday, snapping a two-day winning spell, as risk-averse investors booked profit on sector-wise issues.

Dealers said the correction occurred as the market witnessed a significant gain in the past few trading days, which prompted many investors to book quick-profit.

Following the previous two sessions' gain, the Dhaka Stock Exchange (DSE) opened with a positive trend. Within the first five minutes of trading, DSEX, the key index of the DSE, advanced nearly 30 points.

After that it started to slide and the downward trend continued till the end of the session, eventually ended more than 38 points lower.

DSEX, the prime index of the DSE, went down by 38.35 points or 0.65 per cent to settle at 5,883 after hitting a record high in the previous session.

Sheltech Brokerage, a stockbroker, said, "DSEX moved downward due to heavy profit booking and severe sell-offs in bank issues."

LankaBangla Securities, a stockbroker, said, "Index started the day with a gain of 30 points and then started to drop down. By the end of the session, index lost 38.35 points and closed red at 5,883.24 level."

"The prime bourse plummeted sharply as investors shifted their tendency towards profit booking after successful rally of the stocks from bank sector," according to the market review of EBL Securities.
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