Stocks closed marginally higher yesterday as late profit taking selling pressure cut sharp gains seen in the early trading and the previous session.
The benchmark index of Dhaka Stock Exchange, DSEX, rose marginally over 12 points or 0.3% to 4,627, extending the winning streak for the fourth straight session.
The Shariah index, DSES, inched over 4 points or 0.5% up to 1,113. The blue chip comprising index DS30 gained 12 points or 0.8% to 1,748.
The Chittagong Stock Exchange prime index, CSCX, rose 52 points to end at 8,712.
The rally was led by small-cap cement sector that posted a hefty gain of 4.5%, followed by life insurance 4%. Power, pharmaceuticals, food and allied, and non-banking financial institutions ended slightly higher.
Profit booking took place mainly on heavyweight sectors such as telecommunications and banks that were down marginally.
Trading activities continued to remain vibrant despite the decline as the DSE turnover stood at Tk840 crore, down 2.3% over the previous session.
IDLC Investments said bullish trend continued in the morning hours which was gradually subdued as investors realised some profit of the previous couple of sessions.
It said investors’ participation remained buoyant in anticipation of positive news of the upcoming budget.
Lanka Bangla Securities said stocks slowed down after gaining more than 100 points in the previous session.
It said though buying interest in large cap fundamental stocks pushed DSEX to its day’s high to 4670, but profit booking in the afternoon trading closed the benchmark index with moderate gain.
Lanka Bangla said the finance minister hinted cut in oil price to some extent in the next budget which would convey positive impact on domestic growth and downward pressure on inflation.
Khulna Power Company Limited was the most traded stocks or the third consecutive session with shares worth over Tk68 crore changing hands.