Dhaka stocks declined on Thursday, the last trading session of the week, with the turnover recording a sharp fall as the investors went for sell-offs.
The turnover of the Dhaka Stock Exchange dropped to Tk 685.57 crore from the earlier session’s Tk 1,072.26 crore, which was the highest since Tk 1,172.13 crore recorded on September 29 last year.
The key index of the bourse, DSEX, lost 1.06 per cent, or 45.29 points, to finish at 4,213.92 points.
Market operators said decline of share prices on Thursday has became a trend of late, which makes investors observe the market from a distance.
However, a section of investors were active on the day to make profits by selling shares that had the prices increased recently, they said.
Fall in share prices is normal after going up for couple of sessions, they added.
There has been an uptrend in the market for the last one and half months thanks to the government’s decision to implement the Tk 1200 crore refinancing scheme for the investors that had been affected by the stock market crash in 2010-2011.
The fall in turnover determines that a large number of investors, who were active in the earlier trading sessions, have become inactive, a senior merchant banker said.
The rise of all share prices in a single trading session and fall in the same manner is not a good tradition. The investors should come out of it, he added.
The old key index of the bourse, DGEN, closed at 4,429.63 points, shedding 1.05 per cent or 47.45 points.
DS30, the blue chip index of the bourse, finished at 1,553.00 points, shedding 1.10 per cent or 17.34 points.
‘After session-long volatility on fluctuation in market sentiment, profit taking drag down the bourse at the ending session of the week,’ IDLC Investments said in its daily market commentary.
‘Like recent trading sessions, market started with upbeat vibe that disappeared just after ten minutes of trading and then movement was largely random. Market seemed a bit ‘indecisive’ amid which such correction was a quite natural pattern,’ it also said.
Of the 289 issues traded on the day, 46 advanced, 226 declined and 17 remained unchanged.
Bangladesh Submarine Cable Company led the turnover chart as its shares worth Tk 50.47 crore changed hands.
JMI Syringes and Medical Devices gained the most on the day as its shares went up by 9.85 per cent while First Lease Finance and Investments lost the most, 7.05 per cent.
-With New Age input
