Stocks slip as profit-taking weighs, but turnover crosses Tk1,200cr

The Dhaka Stock Exchange (DSE) saw its rally snapped today as cautious investors opted for profit-booking, pulling the market indices slightly down. 

The turnover, however, jumped 6% to Tk1,248 crore from the previous session's Tk1,178 crore, marking the highest level since August 2024. The increase in turnover reflects heightened investor participation.

The DSEX, the broad-based index of the Dhaka bourse, dropped 6 points or 0.12% to close the day at 5,448. The blue-chip DS30 index shed 5 points or 0.23% to settle at 2,123. Out of the 397 issues traded, 137 advanced, 215 declined, and 45 remained unchanged.

Textile stocks accounted for the largest share of trade at 14.7%, followed closely by pharmaceuticals and banking stocks.

EBL Securities, in its daily market review, noted that the market opened on a positive note, continuing the momentum from the previous session. However, sentiment weakened midway as investors rushed to cash in recent gains. 

"Profit-booking sell-offs emerged since investors opted to realize recent gains and adopt a cautious stance to gauge the market's trend," the review said.

Major draggers on the index included Islami Bank Bangladesh, Beximco Pharmaceuticals, BAT Bangladesh, Al-Arafah Islami Bank, and Olympic Industries. 

On the other hand, IT, fuel and power, and ceramics sectors posted notable gains of 2.2%, 2.0%, and 1.7%, respectively.

Among individual performers, Energypac Power, National Polymer, and Information Service Network topped the gainers' chart, each advancing nearly 10%. 

Conversely, the biggest losers were from the non-bank financial sector, with FAS Finance, Premier Leasing, Prime Finance, and International Leasing all shedding more than 9%.

Meanwhile, on the Chittagong Stock Exchange, the CSCX gained 15 points or 0.16% to close at 9,378, while the CASPI rose 15 points or 0.10% to settle at 15,243. Turnover on the port city bourse stood at Tk15 crore.