Dhaka stocks declined on Sunday, the first trading session of the week, after a flat week with a fall in turnover as investors, panicked by a rumour that the bourse would initiate investigations into suspected trading in 50 brokerage houses, sold off their shares.
DSEX, the benchmark general index of Dhaka Stock Exchange, dropped to 4,077.36 points, shedding 0.99 per cent or 41.13 points.
DS30, the blue-chip index of the bourse, declined by 1.65 per cent, or 25.50 points, to close at 1,519.99 points.
The turnover of the bourse declined to Tk 341.32 crore from the previous trading session’s Tk 412.63 crore.
Of the 288 shares and mutual funds traded on the day, 67 advanced, 200 declined, and 21 remained unchanged.
Market operators said the rumour that the Dhaka Stock Exchange would initiate intensive investigations into suspected trading in 50 brokerage houses following a Bangladesh Securities and Exchange Commission’s verbal direction made the retail investors panicky.
The rumour also panicked big investors and they refrained from trading on the day, they said.
BSEC executive director Saifur Rahman, however, said the commission did not give such verbal direction.
‘To the best of my knowledge, the BSEC has not given such direction to the DSE,’ he said.
A merchant banker said uncertainties on the political front also kept the market on a low note.
‘Market outlook remained downbeat throughout today’s [Sunday] session alongside the decline in participation. Activity shrank by 17.28 per cent to Tk 341.32 crore, which was the lowest within
the last sixteen sessions,’ IDLC Investments said in its daily market commentary.
Meanwhile, investors were focusing on potential warm-up in political frontier, it said.
‘Additionally, profit-taking tendency in most of the small-cap and mid-cap scrips from the very beginning assisted to derail the market,’ it also said.
Grameenphone led the turnover leader’s chart with its shares worth Tk 29.29 crore changing hands.
Bangladesh Submarine Cable Company, Tallu Spinning, RN Spinning Mills, Renata, Padma Oil, Square Pharmaceuticals, Heidelberg Cement, Active Fine Chemicals and CVO Petrochemical Refinery were also among the top 10 turnover leaders on the day.
Samorita Hospital gained the most on the day as its share price increased by 9.99 per cent, while Miracle Industries lost the most, shedding 8 per cent.
-With New Age input
