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Stocks fall ahead of three-day closure

Times Business Report - February 21st, 2013

Stocks continued to decline for the fourth day, as investors went for sell-offs to pocket profits.
DSEX, the benchmark general index of the Dhaka Stock Exchange, dropped 54.81 points or 1.30 percent, to close at 4,155.45 points.
The market will remain closed today as the nation observes the International Mother Language Day.
Turnover, an important indicator for investors, declined 20.20 percent to Tk 434 crore than the previous day.
Investors were reluctant to take fresh position in the market ahead of a three-day closure, market analysts said.
The continuous downtrend for four days triggered investors to realise profits, according to the analysts.
The day started on a flying note, but finally closed in the red thanks to the selling pressure of shares and mutual fund units from investors.
A total of 1.23 lakh trades were executed with 9.81 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the 272 issues traded on the DSE floor, 36 advanced, 204 declined and 32 remained unchanged.
All the major sectors lost in prices. Non-bank financial institutions lost 1.81 percent, banks 1.44 percent, pharma 1.25 percent and power 0.93 percent.
Summit Purbanchol Power Company was the most traded stock of the day, at its 30.38 lakh shares worth Tk 28.89 crore were transacted.
United Airways and RN Spinning Mills were the next popular stocks of the day.
Modern Dying and Screen Printing, which went up 9.51 percent, was the biggest gainer of the day, while Generation Next Fashions was the worst loser, dropping by 7.85 percent.
Chittagong Stock Exchange’s selective categories index, CSCX, dropped 127.72 points, or 1.52 percent, to close the day at 8,284.25 points. The port city bourse traded 1.24 crore shares and mutual fund units with a turnover of Tk 50.17 crore.