Dhaka stocks declined on Tuesday with an increased turnover as investors sold off shares to purchase the shares of Bengal Windsor Thermoplastics Ltd which made its debut on the day.
The turnover of Dhaka Stock Exchange increased to Tk 219.78 crore
from Tk 206.98 crore in the previous trading session.Bengal Windsor Thermoplastics took 15.25 per cent of the day’s total turnover.
A total 59,76,200 shares of the company worth Tk 33.52 crore changed hands on the day. The company offloaded 1.6 crore shares through the initial public offering.
The price of the shares of Bengal Widsor Thermoplastics increased by 119.20 per cent to close at Tk 55 each.
The DSE benchmark general index, DSEX, closed at 3,571.49 points, declining by 1.79 per cent or 65.26 points on the day.
Market operators said most of the investors rushed to buy the shares of Bengal Windsor Thermoplastics on the day which put a negative impact on the prices of other securities.
The increase in the price of Bengal Windsor Thermoplastics shares was not reflected on the indices as per the calculation system of the DSE, they said.
Political instability might also be a reason for the day’s fall, they said.
A senior official of a merchant bank, however, said the increase in the turnover indicated that investors’ participation rose which was a good sign for the market.
The investors who remained inactive due to the recent fall started to participate in the trading again as the capital market regulator eased margin rules to stabilise the market, he said.
The DSE old benchmark general index, DGEN, declined by 1.72 per cent, or 64.98 points, to finish at 3,698.73 points.
DS30, the blue-chip index of the DSE, declined by 1.48 per cent, or 19.93 points, to close at 1,318.50 points on Tuesday.
Of the 270 issues traded on the day, 21 advanced, 243 declined, and six remained unchanged.
‘Jolts in the political arena once again knocked market sentiment down, putting a flop-show since trade initiated. Meanwhile, participation continued up momentum, as daily turnover stayed over Tk 200 crore for second consecutive session,’ IDLC Investments in its daily market commentary said.
Phoenix Finance First Mutual Fund was the worst loser of the day as its share price declined by 9.83 per cent.
Textiles sector lost the most on the day, declining by 3.84 per cent.
-With New Age input
