Dhaka stocks inched down on Thursday while the turnover continued its plummeting trend as uncertainty over the political stability dejected the investors.
The benchmark general index of the Dhaka Stock Exchange, DSEX, lost 0.23 per cent, or 9.68 points, to finish at 4,118.49 points on Thursday.DS30, the blue chip index of the DSE, finished flat at 1,545.49 points, shedding 0.06 per cent, or 1.04 points.
The turnover of the bourse declined to Tk 412.63 crore from the previous session’s Tk 530.63 crore.
The DSEX started the day on a positive note gaining around 20 points in the first hour of trading, but the market failed to sustain the momentum as the investors went for sell-offs, being dejected at lack of positive news on the political front, said market operators.
The investors are monitoring each and every step of the government and the opposition party. They would not take any risk if the political situation deteriorates, said the operators.
The fact that the government and the opposition party are yet to reach a solution regarding the next poll-time government was the main reason that made the investors worried, they added.
If the political situation improves, it will have a positive impact on the capital market, the operators observed.
Besides, inactivity of gamblers on the trading floor following the Bangladesh Securities and Exchange Commission’s decision to investigate unusual trading of some shares was another reason behind the decline in turnover, they said.
‘Market sentiment jumped back and forth throughout the session, eventually making a negative close as the week ends. Especially, with selling pressure getting stronger momentum in the last 2 hours, the broad index DSEX went mildly negative, closing at 4118.5 points,’ IDLC Investments said in its daily market.
‘Activities slowed down significantly to a 13 session’s low level of Tk 412.63 crore. In line with the previous sessions,’ it also said.
Among the 289 shares and mutual funds traded on the day, 129 advanced, 133 declined and 27 remained unchanged.
RN Spinning Mills led the turnover chart on the day as its shares worth Tk 27.56 crore changed hands.
-With New Age input
