Dhaka stocks declined on Sunday, the first trading session of the week, as the prices of banks’ shares dropped due to profit-taking sell-offs after recent rise.
DSEX, the benchmark general index of Dhaka Stock Exchange, decreased to 4,324.70 points, shedding 1.62 per cent or 71.23 points. DS30, the blue-chip index of the bourse, declined by 0.78 per cent, or 12.13 points, to finish at 1,531.85 points.
Market operators said that investors sold shares to book some profit as the share prices had increased significantly in recent weeks.
They said investors also feared fresh political unrest amid uncertainty in the political frontier.
The turnover of the DSE dropped to Tk 659.04 crore from Tk 728.11 crore in the previous trading session.
Of the 294 shares and mutual funds traded on Sunday, 55 advanced, 229 declined and 10 remained unchanged.
The share prices of all the 30 listed banks declined on the day after significant rise in recent weeks.
The banks sector lost 2.21 per cent, while non-banking financial institutions shed 2.09 per cent.
‘Shaky confidence overpowered market optimism today [Sunday], turning the investors into a profit-taking mode,’ IDLC Investments said in its daily market commentary.
‘Meanwhile, textile captured most of the turnover (21 per cent) in today’s [Sunday] session, while fuel and power enjoyed a hike in interest reflected by 24 per cent increase in turnover, following positive earnings declaration from the sector,’ it also said.
Paramount Textile Limited led the turnover leaders with its shares worth Tk 28.25 crore changing hands.
Jamuna Oil, Generation Next Fashions, Bengal Windsor Thermoplastics, Meghna Petroleum, RN Spinning, United Airways, Padma Oil, Central Pharmaceuticals and Golden Son were also among the other top turnover leaders.
Modern Dyeing and Screen Printing gained the most on the day with a 9.97-per cent increase in its share price, while Olympic Industries lost the most, shedding 26.66 per cent.
-With New Age input
