Dhaka stocks declined for the fourth trading session on Sunday with a decreased turnover because of panic driven sell-offs by investors as they feared further unrest on the political front. The benchmark general index of Dhaka Stock Exchange, DSEX, dropped by 60.92 points, or 1.48 per cent, to finish at 4,036.78 points on the day. DS30, the blue-chip index of the DSE, finished at 1,484.47 points, shedding 1.84 per cent or 27.95 points.
The turnover of the bourse decreased to Tk 414.94 crore from the previous trading session’s Tk 485.19 crore.
Market operators said recent political unrest made investors panicky.
Potential escalation of political unrest ahead the next general elections was another reason for the panic driven sell-offs, they said.
Of the 291 shares and mutual funds traded on the day, 73 advanced, 196 declined, and 22 remained unchanged.
‘Heavy shed-offs fuelled by steep decline in most of the small capitalised and large capitalised stocks took a toll of 60.92 points during today’s [Sunday] session,’ IDLC Investments said in its daily market commentary.
Fear of potential political turmoil accelerated this kind of straight downbeat and profit-booking tendency ahead of Eid-ul-Azha changed market sentiment slightly and put the bourse in red zone, it said.
‘Again, market participation became sluggish as turnover went down to ten sessions’ low of Tk 414.94 crore,’ it also said.
Textile sector dominated the trading floor for the fifth trading session as it occupied 26.47 per cent of the day’s total turnover. Of the traded 30 issues under the sector, 14 advanced and 16 declined.
Tallu Spinning led the turnover chart as its shares worth Tk 20.17 crore changed hands on the day.
Bangladesh Submarine Cable Company, CMC Kamal, RN Spinning, United Airways, Grameenphone, Meghna Petroleum, Lankabangla Finance, Heidelberg Cement and Bangas were also among the top 10 turnover leaders of the day.
Desh Garmants and Information Services Network led the gainers as their share prices increased by 10 per cent each, while Kay and Que lost the most, declining by 9.79 per cent.
-With New Age input
