Dhaka stocks declined on Monday amid lower turnover as the investors went for sell-offs to make some profits late in the trading session.
The benchmark general index of the Dhaka Stock Exchange, DSEX, lost 0.69 per cent, or 29.06 points, to finish at 4,134.12 points.The blue chip index of the bourse, DS30, finished at 1,544.89 points, shedding 1.48 per cent, or 23.33 points.
The turnover of the bourse declined to Tk 602.47 crore from the previous trading session’s Tk 820.30 crore.
The DSEX and the DS30 had gained 329.65 and 157.32 points respectively in the last ten trading sessions.
Market operators said that the market had started the day on a positive but it failed to sustain the momentum due sell-offs late on the day, which led the market to the red.
This fall after the recent rally has nothing to make the investors feel worried, they added.
The market would not fall further as the first instalment of the Tk 900 crore refinancing scheme for the affected small investors might be released this week, which will obviously have a positive impact on the market, the operators said.
Political stability was probably another reason that made the investors active on the trading floor, they added.
‘Profit booking tendency especially in MNC [multinational companies] stocks was upheld throughout today’s [Monday] session. Investors were active to realize quick return on overvalued scrips, which helped the market to close in the red zone,’ IDLC Investments said in its daily market commentary.
Among the 278 shares and mutual funds traded on the day, 104 advanced, 149 declined and 25 remained unchanged.
Grameenphone led the turnover chart as its shares worth Tk 34.26 crore changed hands.
Pragati Life Insurance gained the most on the day as the price of its shares increased by 9.93 per cent, while ICB AMCL First NRB Mutual Fund lost the most, 9.92 per cent.
-With New Age input
