Dhaka stocks declined for the second trading session on Monday as investors were anticipating further corrections in share prices after a six-trading session rise.
Market operators said speculation that the war crimes tribunals might pronounce their verdicts against some war crimes accused soon made investors shaky as they (investors) feared that political unrest might erupt.
The benchmark general index of Dhaka Stock Exchange, DSEX, finished at 4,624.75 points, shedding 0.89 per cent or 41.65 points.
Market operators said heavy selling by investors pulled the market down for the second trading session after it had advanced more than 100 points in the previous six trading sessions.
Banks and multinational companies, however, performed well again with increase in their share prices after fall for the last few sessions, operators said.
Out of the 30 banks traded on the day, 19 advanced, seven declined and four remained unchanged.
DS30, the blue-chip index of the bourse, fell by 0.97 per cent, or 16.58 points, to close at 1,688.65 points on Monday.
The Shariah index of the DSE, DSES, closed at 1,017.05 points, losing 1.68 per cent, or 17.42 points.
Turnover of the bourse remained unchanged at Tk 435.86 crore on Monday compared with the previous day’s figure.
Of the 288 shares and mutual funds traded, 68 advanced, 194 decline and 24 remained unchanged.
‘Selling stimulus, triggered by the fear of further fall put a drag on bourse,’ IDLC Investments said in its daily market commentary.
Meanwhile, micro cap shrank significantly amid the cap classes, it said.
‘During the session, investors continued centralising their positions on the basis of quarterly earnings announcement and expectation,’ it said.
Meanwhile, portfolio re-balancing was prominent as investors were seemed pursuing meticulous strategy in their trading activities, said IDLC.
‘Amid the major sectors, banks performed well with four emerging at top ten gainers list,’ it said.
Lafarge Surma Cement traded
the most on the day with its shares worth Tk 37.77 crore changing hands.
Meghna Petroleum, Padma Oil, Grameenphone, Southeast Bank, Heidelberg Cement, NBL, Olympic Industries, Square Pharmaceuticals and Confidence Cement were among the other turnover leaders.
Dhaka Insurance gained the most on the day with a 6.23-per cent increase in its share price, while Bd Welding Electrodes lost the most, shedding 25.41 per cent.
-with New Age input
