Dhaka stocks declined on Monday after two days of gain, with decline in turnover as the investors were shaky to participate in the trading floor due to the ongoing political uncertainty, said market operators. DSEX, the benchmark general index of Dhaka Stock Exchange, declined to 4,265.24 points, shedding 0.55 per cent or 23.62 points on Monday.The blue-chip index of the bourse, DS30, declined by 0.57 per cent, or 8.53 points, to close at 1,472.32 points.
The turnover of DSE declined to Tk 456.44 crore which was Tk 710.08 crore in the previous trading session.
Of the traded 289 shares and mutual funds on Monday, 96 advanced, 154 declined and 39 remained unchanged.
Investors’ participation on the trading floor dropped on Monday after increase in the last trading session as they were not satisfied with the ongoing political progress, said the market operators.
They also said that political stability was a must for improvement of investors’ confidence in the market.
‘Hesitation of market sentiment appeared evident, Monday as investors went cautious, pulling down index from 4,300-point level in the initial hours of the session,’ IDLC Investments said in its daily market commentary.
‘The shakiness reined in the later part of the session beating DSEX down, finally to settle at a 24 points correction,’ it said.
‘After yesterday’s [Sunday] abrupt spike in turnover, activities sedated today, to its previous level of around Tk 450 crore.
‘Despite positive export data of textile, the sectors was today’s worst loser (-2.52%) as investors weighted expected suboptimal performance of the sector in the future more,’ the IDLC said.
Generation Next Fashions led the turnover chart as its shares worth Tk 25.56 crore changed hands.
RN Spinning Mills, Barakatullah Electro Dynamics, Lankabangla Finance, Golden Son, Argon Denims, Tallu Spinning, Envoy Textiles, Sammit Purbanchol Power Company and United Airways were among other turnover leaders.
Green Delta Insurance gained the most on the day as its share prices increased by 9.82 per cent, while Samata Leather Complex lost the most shedding 10 per cent.
-With New Age input
