The Dhaka stocks declined for the second week in a row with decline in turnover due to intensifying political tension ahead of the next general elections.
The benchmark general index of Dhaka Stock Exchange, DSEX, declined to 4,200.96 points, shedding 1.03 per cent or 43.68 points over the week.
DS30, the blue-chip index of the bourse, declined by 1.30 per cent, or 19.12 points, to close at 1,447.95 points last week.
The DSEX and DS30 have now lost 98.63 points and 42.40 points respectively with the last two-week fall.
The turnover of the bourse declined to Tk 477.11 crore from Tk 512.27 crore in the previous week.
Of the 296 shares and mutual funds changing hands over the week, 87 advanced, 190 declined and 19 remained unchanged.
Market operators said that uncertain political situation surrounding the next national elections was the main consideration of investors which kept a good number of investors out of trading.
If the ongoing political standoff prolongs further, it might lead listed and non-listed company in losses, the operators said.
‘The final week of 2013 ended in dismay. Looming political fear and its expected impact on national economy marred investment outlook, triggering correction in the market,’ IDLC Investments said in its weekly market commentary.
‘Turnover on the other hand contracted slightly by 7 per cent amid extreme consolidation in a few stocks.
‘However, textile remained turnover leader capturing 27 per cent of total activities,’ said the IDLC.
Appollo Ispat Complex, a newly listed company in the bourse, led the turnover chart as its shares worth Tk 102.74 crore changed hands.
RN Spinning Mills, Generation Next Fashions, Golden Son, Tallu Spinning, Argon Denims, LankaBangla Finance, Paramount Textile, Delta Life Insurance and Envoy Textiles were among other turnover leaders of the week.
Bay Leasing and Investment gained the most over the week as its share prices increased by 24.92 per cent.
Samata Leather Complex lost the most shedding 35.62 per cent, while CVO Petrochemical Refinery, BD Autocars, Paramount Textile, Rahima Food, Padma Oil, Delta Spinners, Legacy Footwear, Hakkani Pulp and Paper and Central Pharmaceuticals were among the losers.
-With New Age input
