Dhaka stocks drop on profit-taking sales

Dhaka stocks declined in volatile trading on Thursday after gain in the previous three trading sessions with decline in turnover due to profit-taking selling pressure.
The benchmark general index of the Dhaka Stock Exchange, DSEX, declined by 0.57 per cent, or 23.58 points, to finish at 4,079.80 points.The key index had gained 220.58 points in the last three trading sessions after losing 165.22 points in the previous two.
The turnover of the DSE declined to Tk 593.49 crore from Wednesday’s turnover of Tk 752.30 crore.
On Wednesday the turnover of the DSE hit eight-month high.
Market operator said out of the last 13 trading sessions the price indices of the DSE gained for 11 trading sessions, prompting a section of investors to book some profits.
The day’s market movement also indicated that still a section of investors was buying shares which might prevent the market from a massive fall, they also said.
DGEN, the old benchmark general index of the DSE, declined to 4,299.66 points, shedding 0.66 per cent or 28.81 points on Thursday.
The DGEN had gained 196.88 points in the last three trading sessions after losing 177.02 points in the previous two.
The blue-chip index of the bourse, DS30, declined by 0.44 per cent, or 6.79 points, to finish at 1,505.58 points.
‘Though the market lost today [Thursday], investors took it positively as most believed that intermediate correction would be beneficial for continuation of a bullish sentiment,’ IDLC Investments said in its daily market commentary.
‘As the short-term rhythmic bullish movement faced some resistance due to net selling pressure, a cautious movement initiated during today’s session,’ it also said.
Of the 28 issues traded on the day, 144 advanced, 121 declined, and 23 remained unchanged.
General insurance sector gained the most on the day as the share price of the sector gained by 3.46 per cent on the day.
Cement sector lost the most as its share price lost 1.57 per cent, while banks sector lost 1.33 per cent.
Bangladesh Submarine Cable Company led the turnover chart on the day with its shares worth Tk 27.72 crore changing hands.
ICB AMCL Sonali Bank Limited First Mutual Fund gained the most on Thursday as its share price increased by 11.88 per cent, while Apex Adelchi Footwear lost the most — 6.79 per cent.

-With New Age input

Related News

Meghna EZ attracts Swiss investments

Business Desk : dhakamirror.com Sika Bangladesh, a subsidiary of Swiss Sika Group, a producer of construction chemicals, would invest US$6 million to develop a 10,000 square meter plant in the Meghna Industrial Economic Zone (Miez) in Sonargaon, Narayanganj. The factory will mainly produce admixtures and grout, an official said. Construction chemical products worth around Tk ... Read more

EBL raises Tk 122.4cr for TMSS

Business Desk : dhakamirror.com Eastern Bank Limited (EBL) has raised Tk 1,224 million (Tk 122.4 crore) through the issuance of zero-coupon bonds for Thengamara Mohila Sabuj Sangha (TMSS), a microfinance institution in Bangladesh. The EBL acted as the lead arranger while MTB Capital Ltd played a role as the trustee of the deal, said a ... Read more

Nagad offers up to 20pc cashback for Puja

Business Desk : dhakamirror.com Mobile financial service Nagad on Monday rolled out a campaign titled “Utshab er Khushi Nagad-a Beshi” on the eve of Durga Puja. Under the campaign, they offered up to 20 per cent cashback and discount for its customers in lifestyle, e-commerce, and restaurant categories at over 50 brand outlets across the ... Read more

GP, Hatil team up to enhance lifestyle

Business Desk : dhakamirror.com Leading mobile phone operator Grameenphone paired up with premium furniture brand Hatil to enhance the lifestyle of its GPStar customers. Selim H Rahman, chairman of Hatil Bangladesh, and Asif Naimur Rashid, chief business officer of Grameenphone, signed the deal at the GPHouse in Dhaka on Monday, a press release said. Under ... Read more

Brac Bank opens 800th agent banking outlet

Business Desk : dhakamirror.com Brac Bank has achieved a milestone of opening the 800th agent banking outlet recently. Nazmur Rahim, head of alternate banking channels of the bank, inaugurated the outlet at Kaziganj Bazar in Habiganj on Monday. The bank serves around 2.10 lakh unbanked people in rural and semi-urban areas through its agent banking ... Read more

Newsweek report praises Walton

Business Desk : dhakamirror.com US weekly magazine Newsweek appreciates Bangladesh’s electric and electronics conglomerate Walton for its growing role in the economic growth and development of the country. The magazine highlighted the country’s development in their recent report, where it mentioned Walton is the corporate pride of Bangladesh whose spectacular growth runs parallel to that ... Read more

Rubana Huq honoured with Human Right Award by CNMI Sustainable Fashion Awards 2022

Business Desk : dhakamirror.com On the occasion of Milan Fashion Week, former president of Bangladesh Garment Manufacturers and Exporters Association Rubana Huq has been awarded the Human Right Award by CNMI Sustainable Fashion Awards 2022. The National Chamber of Italian Fashion, in collaboration with the United Nations Ethical Fashion Initiative, a programme of the International ... Read more

Registration for Banglalink’s ‘ennovators’ begins

Business Desk : dhakamirror.com Banglalink has kicked off the registration process for the sixth season of ennovators, a digital idea-based competition in the country. Ennovators is a platform for creative young people of the country looking to showcase their ideas in the field of digital innovation against the challenges of today’s world. Over the course ... Read more

DHL adjusts Bangladesh price for 2023

Business Desk : dhakamirror.com DHL Express, the world’s leading international express services provider, announced price adjustments today that will take effect on January 1, 2023. The average increase in Bangladesh will be 7.9 %, compared to 2022. “So far, 2022 has been another turbulent year with a volatile market environment challenging global trade. However, we ... Read more

TVS Motor launches new motorcycle

Business Desk : dhakamirror.com TVS Motor Company launched a 160cc motorcycle in Bangladesh yesterday bearing an anti-lock braking system J Ekram Hussain, managing director of TVS Auto Bangladesh, unveiled the TVS Apache 160 2V at a programme in Dhaka yesterday, said a press release. Rahul Nayak, vice-president of International Business of TVS Motor Company, Biplob ... Read more

CPA to start construction works of Bay Terminal in 2023

Business Desk : dhakamirror.com The Chittagong Port Authority on Wednesday informed that they had completed all the preparations, including land acquisition and design, to start the construction works of the Bay Terminal in Chattogram from January 2023. CPA chairman rear admiral M Shahjahan disclosed the information at a press conference at Munshi Fazlur Rahman auditorium ... Read more

Tri-nation firm Gava to invest $25.62m in Dhaka EPZ

Business Desk : dhakamirror.com Gava Private Limited, a company owned by Hong Kong, Sri Lanka and Switzerland, is going to invest $25.62 million at Dhaka Export Processing Zone (DEPZ) to set up a garment manufacturing industry. The company will produce annually 4.4 million pieces of jackets, fleece jackets, t-shirts, polo shirts, sweaters, trousers, coverall, stretch ... Read more

GP received approval to sell used recycled SIMs

Business Desk : dhakamirror.com The telecom regulator recently permitted Grameenphone (GP) to sell unused pre-approved old numbers that had been out of service for more than 450 days, a Bangladesh Telecommunication Regulatory Commission (BTRC) official said. Grameenphone has already started selling SIM cards against its suspended unused numbers, following regulatory approval. But, the ban on ... Read more

InterContinental Dhaka wins ‘World Travel Awards’

Business Desk : dhakamirror.com InterContinental Dhaka has been voted winner of a 29th Annual World Travel Awards 2022 in categories “Bangladesh’s Leading Hotel 2022” and “Bangladesh’s Leading Hotel Suite 2022 – Presidential Suite”. The Asia and Oceania Gala Ceremony 2022 of World Travel Awards was organised in Ho Chi Minh City in Vietnam recently, said ... Read more

Brac Bank, BB hold training for entrepreneurs

Business Desk : dhakamirror.com Brac Bank conducted a training with technical assistance from Bangladesh Bank for 50 promising entrepreneurs. The “Entrepreneurship Development Programme” was held in two phases at the lender’s head office in Dhaka yesterday, said a press release. The programme is funded by Asian Development Bank and managed by Skills for Employment Investment ... Read more

Samsung launches new locally made models

Business Desk : dhakamirror.com Samsung Electronics, a South Korean multinational electronics corporation, yesterday launched a new line of televisions in Bangladesh through an event in Dhaka. The latest models that come with cutting-edge technology, smart features and innovative designs are being locally manufactured by two companies, namely Transcom Limited and Fair Electronics. Shahriar Bin Lutfor, ... Read more

Samsung Bangladesh launches new line of televisions

Business Desk : dhakamirror.com South Korean electronics giant Samsung Electronics today launched a new line of televisions for the Bangladesh market through an event in Dhaka. The latest models that come with cutting-edge technology, smart features and innovative designs are being locally manufactured by two companies, namely Transcom Limited and Fair Electronics. Televisions were once ... Read more

Salman Khan clothing brand to open outlet in Dhaka

Business Desk : dhakamirror.com The first franchised store of Bollywood superstar Salman Khan’s clothing line ‘Being Human’ will open in Bangladesh tomorrow. The outlet is situated at Banani in Dhaka. Founded in 2012 as an extension of the non-profit foundation established by Bollywood stars, Being Human Clothing currently operates in more than 15 countries and ... Read more

Ananda Shipyard built container ship, delivered to UK buyer

Business Desk : dhakamirror.com Local shipbuilder Ananda Shipyard & Slipways Ltd yesterday handed over a multi-purpose container ship to its UK buyer. Ananda, the pioneer in the export of ships from Bangladesh, built the ship with over 6,100 deadweight tons tonnage at its Meghna Ghat Shipyard in Sonargaon Upazila of Narayanganj. The ship was manufactured ... Read more

Hong Kong currently one of the top investors in Bangladesh

DCCI President Rizwan Rahman says Business Desk : dhakamirror.com Hong Kong has risen to the position of one of the top 10 foreign investors in Bangladesh, investing $1.8 billion to date mainly in the textile and energy industries, said Rizwan Rahman, president of the Dhaka Chamber of Commerce and Industry, (DCCI). Bangladesh’s trade with the ... Read more