Staff Correspondent
Dhaka stocks finished down on Sunday, the third consecutive trading day, in a market that saw continuous price fluctuations amid a downtrend for the last couple of weeks.
The general index of Dhaka Stock Exchange lost 18.39 points, or 0.68 per cent, to close at 2677.19, while its blue chips index, DSE20, shed 34.63 points, or 1.57 per cent, to finish at 2164.71.
‘The market remained dull in recent weeks as institutional investors preferred a “wait-and-see” policy,’ said Yawer Sayeed, managing director and chief executive officer of Aims of Bangladesh, an asset management company.
He said, ‘It seems that institutional investors, the prime movers of the market, are waiting for what policy directions come from the new government.’
The price movement fluctuated most of the days in recent weeks, reflecting the investors’ shakiness, he added.
A merchant bank official said the market witnessed a selling pressure from investors, especially from retailers, who—dejected by the recent prevalence of dullness at the market—scurried to sell off their holdings. He, however, said some investors also offloaded shares to gather cash to buy initial public offerings of Bay Leasing and Investment Ltd, subscription of which started on Sunday.
Before the last two-week’s bear run, the market had been in a bull run for a couple of weeks thanks to an increased participation of investors after a two-and-a-half-month lull.
Of the total 241 issues traded on Sunday, 39 advanced, 196 declined, and six remained unchanged.
Turnover at the DSE, however, increased slightly to Tk 338.02 crore from the Thursday’s Tk 330.15 crore.
Titas Gas topped the turnover leaders with a total transaction of Tk 34.95 crore.
Beximco Pharmaceuti-cals, Beximco, BSRM Steels, Summit Power, Shinepukur Ceramics, ACI Formulations, Summit Alliance Port, Aims 1st Mutual Fund, and Grameen Two Mutual Fund were the rest of the top 10 turnover leaders on the day.
Share-trading of the BSRM Steels and the Republic Insurance Company started at the DSE and the Chittagong Stock Exchange on Sunday.
The share price of BSRM Steels posted a 429.50-per cent rise to close at Tk 529.50 at the DSE, while Republic Insurance Company gained 81.75 per cent to close at Tk 181.75. Face values of the two companies’ shares are Tk 100 each.
Chittagong stocks also dropped on Sunday, the opening trading day of the week.
The CSE selective categories index lost 88.48 points, or 1.63 per cent, to close at 5341.56, while its blue chips index, CSE30, shed 130.41 points, or 1.84 per cent, to finish at 6938.81.
Of the total 130 issues traded on the CSE floor, 22 posted gains, 106 dropped, and two remained unchanged.
Turnover at the CSE increased to Tk 46.95 crore from the Thursday’s Tk 45.75 crore.
Courtesy: newagebd.com
