Stocks fall, Beximco companies end rally amid profit taking
Star Business Report
Star Business Report
Concerns of Beximco Group witnessed corrections yesterday after leading from the front to raise the benchmark index of the Dhaka Stock Exchange (DSE) to a three year high just a week ago.
DSEX, the benchmark index of the DSE, dropped 94.55 points, or 1.63 per cent, to 5,695 yesterday.
This year, the stock market rose thanks to the run-up of insurance companies along with Beximco Group's concerns, which are all now facing a profit booking tendency, said a stock broker preferring anonymity.
Stock prices of Beximco Limited, whose paid-up capital is Tk 876 crore, fell 8.1 per cent while Beximco Pharmaceuticals with a paid-up capital of Tk 446 crore dropped 4 per cent.