Dhaka stocks declined on Thursday after gains in the previous six trading sessions as investors, fearing fresh political unrest in the next week, went for profit-taking sell-offs.
The benchmark general index of Dhaka Stock Exchange, DSEX, dropped to 4,395.93 points, shedding 0.98 per cent or 43.66 points. The DSEX on Wednesday had reached its highest at 4,439.59 points since its launch on January 28 this year.
DS30, the blue-chip index of the bourse, decreased by 0.82 per cent, or 12.89 points, to finish at 1,543.98 points.
The DSEX and the DS30 had gained 183.21 points and 113.44 points respectively in the previous six trading sessions.
The turnover of the bourse declined to Tk 728.11 crore on Thursday from Tk 889 crore in the previous trading session.
The turnover of the bourse had hit four-month high on Wednesday at Tk 889 crore.
Market operators said that share prices of most of the securities fell on the day due to investors’ profit-taking move.
They said investors were also anticipating political unrest in the next week.
‘After six straight sessions of gain that drove the DSEX over 4,400 level, natural sell pressure took hold today [Thursday], as the recent rally has fulfilled many investors’ return objectives,’ IDLC Investments said in its daily market commentary.
It said, ‘Exit of such contained investors forced the DSEX downward to 4,395.94 points, while turnover retracted concurrently to Tk 728.11 crore because of investors’ decreased willingness to trade at this price level.’
Of the 285 shares and mutual funds traded on the day, 91 advanced, 175 declined and 20 remained unchanged.
Generation Next Fashions Ltd led the turnover leaders with its shares worth Tk 38.11 crore changing hands.
RN Spinning Mills, Square Pharmaceuticals, Grameenphone, BEXIMCO, Meghna Petroleum, Bengal Windsor Thermoplastics, Paramount Textile, Malek Spinning and Mamuna Oil were also among the top turnover leaders.
Modern Dyeing and Screen Printing gained the most on the day with a 9.98-per cent increase in its share price.
Rahima Food lost the most, shedding 22.98 per cent.
The trading of the shares of the company resumed on Thursday. The DSE management on October 26 suspended trading of Rahima Food shares as its share price witnessed unusual hike.
-With New Age input
