Dhaka stocks declined on Sunday as investors went for selling their holdings to buy a handful of shares. Due to the investors’ move, three top traded shares — DESCO, Jamuna Oil, and Western Marine Shipyard — held significant amount of the day’s turnover.
The benchmark index of Dhaka Stock Exchange, DSEX, shed 0.42 per cent, or 20.56 points, to close at 4,963.89 points on Sunday.
The turnover at the bourse, however, increased to Tk 753.02 crore from that of Tk 694.57 crore in the previous day.
The three top traded shares of the day accounted for more than Tk 165 crore of Sunday’s turnover.
Market operators said there was still lack of confidence among the investors that drove them more towards the short-living trend.
‘If you see the top three shares, you will see that those shares rose rapidly and held a major portion of today’s [Sunday’s] turnover. So apparently, investors sold off their stocks to buy those shares today which eventually pushed the market down,’ said a stockbroker.
Union Capital managing director Akter H Sannamat said investors needed stronger sign from the institutional investors.
‘Investors are still shaky and more engagement from the institutional investors will boost their confidence,’ he told New Age on Sunday.
The Shariah index of the DSE, DSES, declined by 0.66 per cent, or 7.77 points, to close at 1,166.77 points.
The blue-chip index of the bourse, lost 0.40 per cent, or 7.49 points, to close at 1,852.66 points.
Of the 303 issues traded on the day, 156 declined, 113 advanced while 34 remained unchanged.
‘Amid strong selling pressure from participants, the market moved into red zone at the very first day of the week. The broad market was largely volatile and out of the 303 traded scrips 27 lost more than 3 per cent value while 37 gained more than 3 per cent,’ said IDLC Finance in its daily market commentary.
Fuel and power was the top sector that gained 0.4 per cent followed by engineering that gained 0.5 per cent and pharmaceuticals gained 0.3 per cent.
Other than the three top traded shares, Olympic, RSRM Steel, Saif Powertech, Orion Infusion, MHL Bangladesh, Barakatullah Electro Dynamics and Bangladesh Building System also made their way to the top-10 turnover leaders’ list on the day.
-With New Age input
