Dhaka stocks declined for the third trading session on Monday in volatile trading as investors remained uncertain about the market trend after the formation of the bourse’s first demutualised board that includes seven independent directors. The benchmark general index of Dhaka Stock Exchange, DSEX, decreased to 4,684.07 points, shedding 0.63 per cent or 29.80 points.
DS30, the blue-chip index of the bourse, fell by 1.10 per cent, or 18.59 per cent, to finish at 1,662.08
points.
Investors said that they were uncertain about the market trend as the first demutualised boards of directors of the Dhaka and Chittagong stock exchanges started journey.
The launch of new surveillance software by the DSE to tighten monitoring of the secondary market transactions also made investors shaky, they said.
The Shariah index of the bourse, DSES, finished at 977.30 points on Monday, shedding 0.82 per cent or 8.12 points.
Turnover of the bourse declined to Tk 344.06 crore which was Tk 390.29 crore in the previous trading session.
Of the 284 shares and mutual funds traded, 98 advanced, 158 declined and 36 remained unchanged.
Market operators said the market on the day started negative, but it regained ground and entered into positive territory twice but finished negative due to sell-offs by
investors.
Amid the recent downward trend in the share prices, investors opted for a wait-and-see policy before taking their next investment decision, they said.
‘Volatility made a comeback alongside frequent scrip-wise switching by investors,’ IDLC Investments said in its daily market commentary.
It said, ‘Selling pressure in certain mid and large capitalised scrips depressed today’s [Monday] market sentiment and subsequently pulled down the indices for third consecutive session.’
Meghna Petroleum was the most traded scrip on the day with its shares worth Tk 21.30 crore changing hands.
Square Pharma, LankaBangla Finance, Bangladesh Submarine Cable Company, Olympic Industries, Jamuna Oil, AFC Agro Biothec, Delta Life Insurance, Padma Oil and Southeast Bank were among the other most traded stocks.
AFC Agro Biotech gained the most on Monday with a 5.15-per cent increase in its share price, while Shyampur Sugar Mills lost the most, shedding 9.52 per cent.
-With New Age input
