Dhaka stocks declined for the third trading session on Monday due to a selling pressure. The key index of Dhaka Stock Exchange, DSEX, finished at 4,917.42 points, shedding 0.93 per cent or 46.47 points. Stockbrokers said investors, following the recent downbeat vibe at the market, opted to go slow in taking their next investment decisions. Mixed earning disclosures by the listed companies also depressed investors, they said.
‘Although, there was no negative news for the capital market, the market declined on the day due to profit-taking share sell-offs by some investors,’ EBL Securities managing director Sayadur Rahman told New Age.
‘As the market rally from July to September had gained around 1,000 points, so profit-taking is still going on and that is very normal,’ Sayadur said.
DS30, the blue-chip index of the DSE, fell by 1.22 per cent, or 22.68 points, to finish at 1,829.97 points on the day.
The Shariah index of the bourse, DSES, closed at 1,156.57 points, declining by 0.87 per cent or 10.19 points.
Of the 304 shares and mutual funds traded on the day, 68 advanced, 200 declined and 36 remained unchanged.
Turnover at the bourse declined to Tk 691 crore on the day compared with that of Tk 753.02 crore in the previous trading session.
‘The market continued to slip down, despite somewhat slowing selling pressure and turnover,’ IDLC Investments said in its daily market commentary.
‘Additionally, news related to soaring defaulted loans in the banking industry kept investors re-thinking before further investment,’ it said.
‘Besides, today’s quarterly earnings disclosures didn’t match with investors’ expectations,’ said IDLC.
‘The market ended the day in red territory again as investors remained confused about future market directions,’ LankaBangla Securities said in its daily market analysis.
‘Despite some mid-cap and large-cap stocks registering favourable earnings in the latest quarter, overall investors’ sentiment remains bearish,’ it said.
Shahjibazar Power Company led the turnover leaders on the day with its shares worth Tk 54.75 crore changing hands.
Western Marine Shipyard, Jamuna Oil, DESCO, Titas Gas, Pharma Aids, Navana CNG, Barakatullah Electro Dynamics, Saif Powertec and Fu-Wang Foods were among the other turnover leaders.
JMI Syringes & Medical Devices gained the most on the day with a 9.95-per cent rise in its share price, while Agni Systems lost the most, shedding 13.37 per cent.
-With New Age input
