Stocks perform mixed

Business Desk :

The Dhaka Stock Exchange (DSE) on Monday observed a fairly volatile session as the market pulse shifted toward profit-booking after consecutive gains driven by New Year optimism, resulting in a mild pullback in market indices.

The port city bourse, CSE, however settled on a positive zone. The Selective Categories’ Index (CSCX) and All Share Price Index (CASPI) increased by 19.1 points and 19.8 points, respectively.

DSEX, the broad index of the DSE, fell by 10.4 points to settle at 4,955 points as against 4,965 points in the previous trading session.

Despite a positive opening, market momentum reversed as profit-booking pressure emerged across major scrips as the session progressed.

However, selective bargain hunting in particular large cap issues in the final hour helped the market recover part of the intraday losses.

Moreover, investors’ buying interest shifted to insurance sector stocks, driven by the allure of potential quick gains.

Meanwhile, market turnover fell by 9.6per cent to Taka 4.9 billion as against Taka 5.4 billion in the previous session.

On the sectoral front, Bank (16.4per cent ) issues exerted the highest turnover, followed by Textile (14.8per cent ) and Pharma (13.9per cent ) sectors. Most of the sectors displayed mixed returns, out of which Life Insurance (2.8per cent ), General Insurance (2.1per cent ) and Pharma (0.7per cent ) exerted the most gains while Paper (-2.3per cent ), Travel (-2.2per cent ) and Financial Institution (-0.8per cent ) exerted the most corrections on the bourse today.

Out of the 397 issues traded, 143 advanced, 187 declined and 67 remained unchanged.