Business Desk :
Stocks ended lower on Tuesday, after remaining flat in the previous day, as risk-averse investors went on profit booking sell-offs on large-cap issues.
DSEX, the key index of the Dhaka Stock Exchange, went down by 28.43 points or 0.57 per cent to settle at 4,899, after adding more than 4.0 points in the previous session. Market operators said investors opted for booking profit on large-cap stocks which saw significant gain in the past few sessions.
Price fall of large-cap stocks like Investment Corporation of Bangladesh, Grameenphone, United Power, Beximco Pharma and British American Tobacco contributed most to the index fall, reports FE. These five companies jointly accounted for more than 18 points fall of DSE key index on Tuesday.
After hovering around 4,900 points for the last few days, stocks witnessed a sudden major fall in indices, which made investors more cautious, said a merchant banker.
He noted that many investors moved to the primary market as three IPOs, one is biggest ever, is set to hit the market soon. Many investors have already disposed of shares of other companies, while some have collected funds to join the IPO bonanza.l
