Apr 25, 2014, 10:53 am (BST)
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Stocks tumble amid sale pressure
DHAKA, April 4 (BSS) - Dhaka stocks lost 2.29 percent Wednesday amid selling pressure from investors who were looking for profit-taking gain to minimize their losses incurred earlier.

The benchmark index at Dhaka Stock Exchange (DSE) lost 105.29 points to end the session at 5020.86.

With many investors preparing for further share sale of a large number of listed companies on their post-record date trading, profit-taking offloading became short-term panacea to some people wanting least, but certain return to keep their share investment rolling, stockbrokers said.

DSE trade server showed many companies were scheduled for record date in the days ahead when trading of many others would resume after their book-closures. Share prices of these companies fluctuated on their pre and post-record date trading, prompting the index act accordingly.

Many companies also credited stock and bonus shares to their shareholders account, which eventually diluted the share prices on the market to downward. As a result of the whole scenario, the number of losers mounted to 228 against only 27 gainers of the day.

The daily turnover also declined to taka 573 crore from taka 738 crore, which according to brokers was a result of cautious trading by investors.
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