Dhaka stocks inched down on Tuesday, third trading session in a raw, with increased turnover due to decline in most of the traded large capitalized company shares amid rising political violence across the country. The turnover of the Dhaka Stock Exchange increased to Tk 593.72 crore from Tk 497.60 crore in the previous trading session. Of the traded 289 shares and mutual funds, 150 advanced, 118 declined and 21 remained unchanged.
DSEX, the benchmark general index of the bourse, declined to 4,270.58 points, shedding 0.23 per cent or 10.13 points.
The blue-chip index of DSE, DS30, closed at 1,478.26 points, declining 0.48 per cent or 7.19 points.
Despite increase in most of the traded shares, the traded large capitalized company share prices declined which led the market to a negative ending, market operators said.
Increasing number of political violence surrounding the next polls and uncertainty were other reasons behind the declining trend in the market, they said.
‘Despite a robust start, market struggled in the first half, only to surrender to downbeat in the later half, warranting another negative session for the third consecutive time,’ IDLC Investments said in its daily market commentary.
‘Although, DSEX shed only 10 points, Tuesday’s session marked decline in all major sectors, except textile,’ it said.
‘The peculiarity suggested investors’ harboring a pessimistic sentiment over the entire economy,’ IDLC said.
Small capitalised companies continued to dominate the trading floor as the market fell despite increase in prices of most of the traded shares.
Generation Next Fashions led the turnover chart as its shares worth Tk 26.14 crore changed hands.
Paramount Textile, CVO Petrochemical Refinery, Lankabangla Finance, Delta Life Insurance, Golden Son, Envoy Textiles, Aamra Technologies, Keya Cosmetics and Argon Denims were among other turnover leaders.
Deshbandhu Polymer gained the most as its share prices increased by 9.95 per cent, while Rahima Foods, BD Thai Aluminium, Anwar Galvanizing, ICB AMCL Sonali Bank Limited First Mutual Fund, Kohinoor Chemicals, Grameen One: Scheme Two, Rangpur Dairy and Food Products, Bdcom Online and CVO Petrochemical Refinery followed the chart.
Islami Insurance Bangladesh lost the most shedding of 6.55 per cent.
-With New Age input
