Dhaka stocks finished in the red on Thursday, just after a session on the up, while the turnover plummeted, reflecting the investors’ lack of confidence in the market.
The turnover of the bourse declined to Tk 264.65 crore from the previous trading session’s Tk 286.63 crore while the benchmark general index of Dhaka Stock Exchange, DSEX, closed at 3,948.44 points, shedding 0.15 per cent, or 6.04 points.
DS30, the blue-chip index of the bourse, ended flat at 1,441.93 points, adding 0.01 per cent, or 0.25 points.
The DSEX and DS30 had advanced 26 and 6.64 points respectively on Wednesday after losing 209.45 and 88.25 points in the earlier 11 trading sessions.
The market ended negative on the day as many stuck to their ‘wait and see’ policy with no good news on the political front.
The fact that the political parties are yet to reach a consensus about the next polls-time government was the main reason behind the investors’ shaky attitude, they said.
The institutional investors on Wednesday had saved the market from further fall, but the market finished negative just after one day due to lack of participation of the investors, the operators observed.
‘Previous session’s re-bounce created a technical stimulus, reflecting in an opening surge of 33 points as session started,’ IDLC Investments said in its daily market commentary.
‘However, shaky confidence and myopic loss-aversion tendency shored up selling pressure then, which dragged closing session of the week to a flat end,’ it said.
‘Much confused over investment outlook, especially political scenario, investors continued to stay cautious,’ it added.
Of the 287 shares and mutual funds traded on the day, 134 advanced, 125 declined and 28 remained unchanged.
Delta Life Insurance led the turnover chart as its shares worth Tk 12 crore changed hands on the day while Bangladesh Submarine Cable Company, Square Pharmaceuticals, Tallu Spinning, Argon Denims, Unique Hotel and Resorts, CMC Kamal, Active Fine Chemicals, Beach Hatchery and RN Spinning Mills followed the chart.
Modern Dyeing and Screen Printing gained the most on the day as the price of its shares increased by 9.81 per cent, while Imam Button lost the most, 8.95 per cent.
-With New Age input
