Dhaka stocks ended negative for the seventh trading session on Sunday, the first trading session of the week, as investors refrained from trading amid political unrest.
The benchmark general index of Dhaka Stock Exchange, DSEX, declined by 1.39 per cent,
or 49.03 points, to finish at 3,454.52 points.DGEN, the old benchmark index of the bourse, finished at 3,620.89 points, losing 0.90 per cent or 32.98 points on Sunday.
DSEX and DGEN lost 118.16 points and 81 points respectively in the last seven trading sessions.
Market operators said institutional and big investors along with retail investors remained on the sideline due to lack of confidence.
Until an investment friendly environment is restored in the country, investors will not get confidence to participate in the trading, they said.
A merchant bank official said the market fell as the political unrest escalated again with the announcement of a general strike by BNP and its allies for May 2.
The DSE blue-chip index, DS30, closed at 1,288.01 points, shedding 1.55 per cent or 20.35 points.
The turnover of the bourse decreased slightly to Tk 112.34 crore on the day from the previous trading session’s Tk 112.84 crore.
Of the 271 issues traded on the day, 52 advanced, 194 declined, and 25 remained unchanged.
‘Pessimism continued to take toll on the bourse with participation further thinning out over gloomy market sentiment. Amid rising anxieties and depression, turnover plummeted to a 64-session low of Tk 112.34 crore,’ IDLC Investments said in its daily market commentary.
‘With eyes focused on building crash tragedy at Savar and its potential aftermath on businesses, investors hardly had any motive to increase exposure. In addition, disappointing earnings in a few stocks, especially in textile and general insurance sector, put sentiment on further backtrack,’ it also said.
RN Spinning Mills topped the turnover leaders’ list with its shares worth Tk 5.04 crore changing hands on the day.
Orion Pharma, Bengal Windsor Thermoplastics and Beximco were also on the list.
Kohinoor Chemicals led the gainers’ list as its share price went up by 10 per cent, while Global Heavy Chemicals was the worst loser as its share price declined by 13.77 per cent.
-With New Age input
