Dhaka stocks ended flat on Wednesday, the last trading session of the week, amid volatile trading as political clashes panicked the investors.
The benchmark general index of the Dhaka Stock Exchange, DSEX, finished at 3,983.46 points, adding just 4.11 points, or 0.10 per cent.The market started the day on a positive note but lost more than 15 points within 25 minutes of trading. The market entered the negative zone twice, but in the end did manage to finish on the up.
The blue chip index of the bourse, DS30, gained 0.48 per cent, or 7.30 points, to finish at 1,514.94 points.
The DSEX and the DS30 have now gained 149.93 points and 74.03 points respectively in the last four trading sessions.
Market operators said political violence during the 48-hour general strike called by the Jamaat-e-Islami panicked the investors, which was the main reason behind the market’s volatility.
A large number of investors sold their shares apprehending more political violence in the coming days, they said.
Support from the state-owned entities helped the market finish in the positive zone, they said.
Profit-taking moves by the investors after four trading sessions’ gain was another reason, they added.
They said delay in implementation of the refinancing scheme for the affected small investors also dejected many.
The turnover of the bourse increased to Tk 351.24 crore from the previous session’s Tk 323.21 crore.
Among the 278 shares and mutual funds traded on the day, 140 advanced, 110 declined and 28 remained unchanged.
‘Last three sessions’ cumulative gain of 145.82 points was enough to book profit in today’s session. Earlier positioning in sound scrips dragged investors’ sentiment to realize gain ahead of further fear of political turmoil,’ IDLC Investments said in its daily market commentary.
‘This poor trend in activity was due to investors’ watchful tendency over future directions of capital market and imminent political developments,’ it also said.
United Airways led the turnover chart on the day as its shares worth Tk 25.66 crore changed hands.
Bangladesh Submarine Cable Company, Padma Oil, Meghna Petroleum, Central Pharmaceuticals, Olympic Industries, Square Pharmaceuticals, Titas Gas, Zahin Tex and Jamuna Oil were the other turnover leaders of the day.
Central Pharmaceuticals gained the most as the price of its shares went up by 285 per cent on its debut day while EBL First Mutual Fund lost the most, 7.95 per cent.
-With New Age input
