Dhaka stocks fell flat on Wednesday but the turnover increased thanks to sell pressure from the investors late in the trading session following fresh instability on the political front.
The benchmark general index of the bourse, DSEX, ended flat at 4,128.18 points, adding 0.01 per cent or 0.56 points. The blue chip index of the bourse, DS30, lost 0.36 per cent, or 5.67 points, to finish at 1,546.53 points.
The DSEX and DS30 had gained 27.25 and 24.38 points respectively on Monday.
The DSEX on the day started the day on a positive note, gaining about 50 points in the first hour of trading, but it started to decline after news about the clash between police and Jamaat-e-Islami and Islami Chhatra Shibir activists broke out, market operators said.
Apprehending further fall in shares prices, the investors went for sell-offs, which increased the turnover of the bourse, said the operators.
If the political instability increases in the coming days the capital market might be affected, they said.
The government and the main opposition party should come forward to solve the political crisis regarding the next poll-time government, they suggested.
The turnover of the bourse increased to Tk 530.63 crore from the previous trading session’s Tk 456.72 crore.
‘Buying spree of the first-half session was neutralized by investors’ profit taking tendency. Since, neither buy nor sell could sustain for long time, the bourse ended flat in today’s session. Additionally, investors were focusing on scrip wise swings as 45 out of 289 traded scrips posted more than 4 per cent movements of their respective prices,’ IDLC Investments said in its daily market commentary.
Among the 289 shares and mutual funds traded on the day, 115 advanced, 146 declined and 28 remained unchanged.
Square Pharmaceuticals led the turnover chart as its shares worth Tk 32.52 changed hands.
Grameenphone, Bangladesh Submarine Cable Company, Active Fine Chemicals, Olympic Industries, Padma Oil, Tallu Spinning and Heidelberg Cement were the day’s other turnover leaders.
Samorita Hospital gained the most on the day as the price of its shares increased by 9.96 per cent, while Northern Jute Manufacturing Company lost the most, 10 per cent.
-With New Age input
