Dhaka stocks dropped on Wednesday with a decreased turnover due to investors’ scrip-wise moves amid profit-taking sell-offs. The key index of Dhaka Stock Exchange, DSEX, finished at 4,553.86 points, shedding 0.49 per cent or 22.50 points.
Market operators said the market on the day started on a positive note but failed to sustain the vibe due to some profit-taking sell-offs and switching by investors from one stock to another.
EBL Securities managing director Md Sayadur Rahman told New Age, ‘The market behaviour was normal on the day with some share switching move by the investors.’
‘As there was nothing negative for the capital market and for the money market, investors became optimistic on the trading floor in recent time,’ he said.
Business environment and political situation in the country also improved a lot in recent time that might have played an important role in attracting increased participation of investors on the trading floor, Sayadur said.
Bangladesh Bank’s stable monetary policy statement for the next half of the year was another reason for the inventors’ optimism, he said.
DS30, the blue-chip index of the bourse, finished at 1,727.72 points, declining by 0.35 per cent or 6.17 points.
The Shariah index of the DSE, DSES, fell by 0.38 per cent, or 4.10 points, to close at 1,066.15 points on the day.
Turnover of the bourse declined to Tk 642 crore from Tk 742.53 crore in the previous trading session.
Of the 284 shares and mutual funds traded on Wednesday, 87 advanced, 167 declined and 30 remained unchanged.
‘The equity market settled downward with investors’ selling binge from the start of today’s [Wednesday] trade,’ IDLC Investments said in its daily market commentary.
Sequentially, all the cap classes shrank moderately and pulled broad index down by 22.50 points, it said.
IDLC said, ‘Additionally, the frequent move across a basket of securities resulted marginal level of volatility across the broad.’
‘Thus, investors remained cautious before injecting fresh fund,’ it also said.
BEXIMCO led the turnover leaders with its shares worth Tk 37.26 crore changing hands.
BJL Bangladesh, Khulna Printing and Packaging, Grameenphone, Lafarge Surma Cement, Bangladesh Shipping Corporation, Square Pharmaceuticals, BSRM Steels, Bangladesh Submarine Cable Company and Titas Gas were among the other turnover leaders.
Khulna Printing, a newly-listed company, gained the most on the day with a 7.69-per cent increase in its share price, while Kay and Que lost the most, shedding 8.57 per cent.
-With New Age input
