Dhaka stocks ended negative on Monday after a sharp rise in the previous trading session with an increased turnover because of profit-taking sales by investors.
The benchmark general index of Dhaka Stock Exchange, DSEX, declined by 0.33 per cent, or 13.97 points, to close at 4,165.70 points.The old key index of the bourse, DGEN, closed at 4,373.62 points, shedding 0.27 per cent or 12.26 points.
The DSEX and the DGEN in the previous trading session gained 99.87 points and 86.22 points respectively after the elections of the new leaders of the bourse and the
peaceful end to four city corporation polls on Saturday.
Market operators said a gradual rise in the turnover was a very positive sign as it indicated that investors’ participation was increasing.
A decline in the indices was normal on Monday as investors booked some profits, they said.
The blue-chip index of the bourse, DS30, declined by 0.65 per cent, or 10.01 points, to finish at 1,526.26 points on the day.
‘After a prolonged dullness, the shares of the banks started to rise recently after the Bangladesh Bank relaxed some rules of provisioning against loans,’ a senior merchant banker told New Age.
‘The increase in the shares prices of banks also indicates that the capacity of the market increased in recent times amid an increased participation of investors,’ he said.
The turnover of the bourse increased to Tk 821.69 crore from the previous trading session’s Tk 814.97 crore.
On Sunday, the DSE turnover crossed Tk 800-crore mark for the first time this year.
‘Upbeat vibe at the very beginning of the session cyclically ended flat,
today. Investors’ activity was slightly higher than previous session,’ IDLC Investments said in its daily market commentary.
‘Eventually, total market turnover increased by 0.82 per cent as investors’ confidence got momentum due to recent political stability,’ it also said.
Of the 289 issues traded on the day, 127 advanced, 142 declined, and 20 remained unchanged.
Bangladesh Submarine Cable Company led the turnover chart with its shares worth Tk 44.01 crore changing hands on the day.
First Bangladesh Shilpa Rin Sangstha Mutual Fund gained the most on the day as its share price increased by 9.15 per cent, while National Housing Finance and Investments lost the most by shedding 6.74 per cent.
-With New Age input
