Dhaka stocks ended flat on Tuesday with a declining turnover as the investors went for profit-taking moves after significant rise in the earlier three trading sessions.
The benchmark general index of Dhaka Stock Exchange, DSEX, ended flat at 4,090.12 points, adding 0.12 per cent, or 4.91points. DS30, the blue-chip index of the bourse, declined by 0.28 per cent, or 4.09 points, to close at 1,443.21 points on the day.
The DSEX and DS30 have now gained 144.11 and 40.97 points respectively in the last four trading sessions.
The turnover of the bourse declined to Tk 388.92 crore from the previous session’s Tk 412.05 crore.
The investors moved for profit-taking as the market had declined only once in the last eight trading sessions, said market operators.
Uncertainty on the political front caused by both the political parties’ unwavering stances over forming the polls-time government was another reason behind the market’s dull trend on Tuesday, they added.
The 60-hour general strike was also responsible for thin investors’ presence, said the operators.
‘Being strict in respective policies by two major political parties inked in investors’ psychology, today [Tuesday],’ IDLC Investments said in its daily market commentary.
‘Additionally, profit booking by opportunistic investors leveled DSEX slightly below 4,100 points,’ it said.
‘Meanwhile, news of decline in foreign orders to RMG factories hit investors’ sentiment very negatively. As a result, Textile lost its 32 days leading position in sectoral turnover,’ IDLC added further.
Telecommunication and non-banking financial sector lost 2.23 per cent and 1.66 per cent respectively on the day.
Of the 287 shares and mutual funds traded on the day, 127 advanced, 134 declined and 26 remained unchanged.
UCB led the turnover chart on the day as its shares worth Tk 15.45 crore changed hands.
Envoy Textile Mills, Generation Next Fashions, Summit Purbanchol Power Company, IFIC Bank, Padma Oil, City Bank, Olympic Industries, Argon Denims and Square Pharmaceuticals were the day’s other turnover leaders.
Rupali Bank gained the most on Tuesday as the price of its shares increased by 9.42 per cent, while Zeal Bangla Sugar Mills lost the most, 8.23 per cent.
-With New Age input
