Investors’ worries over political unrest linger
Dhaka stocks declined for the second trading session on Monday in volatile trading with the turnover decreasing significantly amid chaos on the political front.
The turnover of the bourse dropped to Tk 133.44 crore from the previous session’s Tk 177.78 crore.
The benchmark general index of Dhaka Stock Exchange, DSEX, declined to 3,515.96 points, shedding 0.26 per cent or 9.17 points on the day.
The DSEX fluctuated throughout the day.
Market operators said fresh political unrest was the main reason for the fall for the straight two trading session as investors became panicky.
The opposition alliance will enforce a 36-hour general strike from today protesting at the denial of bail to seven top BNP leaders.
The market operators said large-scale investors are observing the market trend before making their next investment move.
‘Until stability is restored in the political arena, investors will not be confident enough to invest in the capital market,’ a merchant banker said.
‘Demonstrating zigzag moves throughout the session, DSEX landed 3,515.97 points, continuing the declining mood. Alongside, dried up participation only helped worsen the situation, as turnover pulled back to 13-session low. Ahead of another outbreak in political volatility, investors apparently retarded positioning in stocks,’ IDLC Investments said in its daily market commentary.
The old benchmark general index of the bourse, DGEN, declined by 0.16 per cent, or 6.10 points, to finish at 3,660.87 points.
The blue-chip index of the DSE, DS30, ended flat on the day as it declined by 0.07 per cent, or 0.98 points, to close at 1,305.58 points.
Of the 270 issues traded on the day, 102 advanced, 138 declined, and 30 remained unchanged.
Textile sector was the most dominating sector on the day as it received 19.63 per cent of the day’s trading.
RN Spinning Mills topped the turnover chart as its shares worth Tk 10.86 crore changed hands on the day.
ACI Formulations Ltd led the gainers’ list as its share price went up by 9.89 per cent on the day.
Global Insurance Ltd was the worst loser on the day as its share price shed 13.10 per cent.
newagebd
-With New Age input
