Dhaka stocks declined on Monday after just one session on the up while the turnover also plummeted as the investors went for sell-offs to make some profits.
The benchmark general index of the Dhaka Stock Exchange, DSEX, lost 0.96 per cent, or 39.94 points, to finish at 4,100.35 points. DS30, the blue chip index of the bourse, fell to 1,527.82 points, shedding 1.10 per cent or 17.06 points.
The turnover of the bourse slid to Tk 478.86 crore from the previous trading session’s Tk 541.23 crore.
Investors who bought shares when the DSEX was below the 4,000-point mark might have sold shares to make some profits following the recent rally and that probably pushed the share prices down on the day, said market operators.
Another section of investors are inactive on the trading floor, observing the political situation
from distance before making their next move, which is another reason behind the decline in turnover, they said.
If the ruling party and the main opposition hold a meeting to solve the disputes regarding the poll-time government that will boost the investors’ confidence, they said.
‘Fade in investors’ confidence pulled down the market into negative territory. Additionally, profit taking in most of the Cap classes, especially Small Cap and Micro Cap assisted to further pull down the market sentiment,’ IDLC Investments said in its daily market commentary.
‘Alongside this, news of decline in foreign investment in national dailies fueled this waning tone,’ it also said.
‘Decrease in fresh positioning and re-positioning kept the participation sluggish, which dragged down the turnover below Tk 500 crore level after eight consecutive sessions,’ IDLC added further.
Sector-wise, non-banking financial institutions gained the most on the day as it added 2.30 per cent while life insurance sector gained 0.68 per cent.
Cement sector lost the most, 3.99 per cent, followed by tannery, 3.57 per cent, and food and allied, 3.33 per cent.
Among the 289 shares and mutual funds traded on the day, 89 advanced, 169 declined and 31 remained unchanged.
Grameenphone led the turnover chart as its shares worth Tk 35.78 crore changed hands while Bangladesh Submarine Cable Company, Active Fine Chemicals, Delta Life Insurance, Tallu Spinning, Padma Oil, Titas Gas, Lankabangla Finance, United Airways and Investment Corporation of Bangladesh followed the chart.
Modern Dyeing and Screen Printing gained the most as the price of its shares went up by 9.80 per cent, while ICB AMCL First Mutual Fund lost the most, 9.97 per cent.
-With New Age input
