Dhaka stocks declined for the third trading session on Monday as large capitalised companies saw fall in their share prices. The benchmark general index of Dhaka Stock Exchange, DSEX, dropped to 4,071.16 points, shedding 0.15 per cent or 6.20 points.
DS30, the blue-chip index of the bourse, decreased by 0.54 per cent, or 8.28 points, to close at 1,511.70 points.
The turnover of the DSE increased to Tk 427.69 crore from the previous trading session’s Tk 341.32 crore.
Of the 290 shares and mutual funds traded on the day, 153 advanced, 106 declined and 31 remained unchanged.
Market operators said the market declined on the day as large capitalised companies witnessed fall in their share prices.
They said that a rumour that the regulators would conduct intensive investigation into suspected trading in a number of brokerage houses made the investors panicky for the last two days.
Despite support from the state-owned entities the market dropped due to a panic driven sell-offs by the investors, they said.
Fresh tensions on the political front over the polls-time government was another reason for the fall in share prices, they said.
‘Pessimism continued to take toll on the bourse for the third straight session, pulling DSEX down by 6.20 points, today [Monday]. As investment outlook stayed bleak over rising political warm-up, fear grew strong amid investment community, keeping market participation indolent,’ IDLC Investment said in its daily market commentary.
Besides, profit booking in some of the large cap scrips made this cap class down by 0.90 per cent and resultantly put the bourse in negative territory, it said.
‘Meanwhile, scrip-wise swings were vigilant during today’s session as 63 out of 290 traded scrips posted more than 4 per cent movements in their respective prices. Overall market sentiment was volatile as investors were pursuing meticulous strategy in their day-to-day trading activities. In addition, they were seemed to remain watchful over future market directions and political frontier,’ it added.
Dhaka Bank lost the most on Monday as its share price declined by 4.27 per cent.
ICB AMCL Islamic Mutual Fund, ICB AMCL First Mutual Fund, Kay and Que, ICB AMCL Second Mutual Fund, NLI First Mutual Fund, AIMS First Mutual Fund, ICB Islamic Bank, Grameenphone and Generation Next Fashions were also among the top 10 losers.
Grameenphone led the turnover leaders’ chart as its shares worth Tk 33.24 crore changed hands.
Hakkani Pulp and Paper gained the most on the day as its share price increased by 10 per cent.
-With New Age input
