Dhaka stocks declined sharply on Sunday, fifth trading session in a row, with declining turnover in apprehension of further decline in share prices amid unstable law-and-order situation and Bangladesh Bank’s moves, market operators said. The key index of the Dhaka Stock Exchange, DSEX, declined to 4,504.77 points, shedding 1.35 points or 62.08 points. The DSEX fell by 197.68 points in the last five trading sessions after it was in the bullish trend for the six trading sessions with increase of around 120 points.
The turnover of the bourse declined to Tk 329.94 crore on Sunday compared with Tk 436.35 crore in the previous trading session.
The market operators said the investors became shakier over the market as the law-and-order situation worsened over the last several days following increase of incidents like murder and abduction.
The investors in last week became nervous over the market following a Bangladesh Bank move to control banks’ capital market investment, they said.
The turnover of the bourse declined on the day as most of the investors refrained from taking any investment move as they decided to observe the market trend, said the operators.
DS30, the blue-chip index of the bourse, fell by 1.53 per cent, or 25.70 points, to close at 1,646.22 points on the day.
The shariah index of the bourse, DSES, declined by 1.19 per cent, or 12.12 points, to finish at 1,006.07 points.
Of the 284 shares and mutual funds traded, 84 advanced, 180 declined and 20 remained unchanged.
‘Depressed earnings shook investors’ sentiment severely during today’s [Sunday] session,’ IDLC Investments said in its daily market commentary.
‘Besides, condensed panic of further fall followed the negative tone,’ it said.
Meghna Petroleum led the turnover chart on the day as its shares worth Tk 17.58 crore changed hands.
Grameenphone, Heidelberg Cement, Olympic Industries, Golden Son, Square Pharma, Lafarge Surma Cement, Matil Spinning Mills, Orion Infusion and Padma Oil were among other turnover leaders.
Legacy Footwear gained the most on the day as its share prices increased by 15.96 per cent, while The Ibn Sina declined the most shedding13.26 per cent.
-With New Age input
