Dhaka stocks witnessed another sluggish trading session on Thursday with a dip in turnover as investors continued to remain aloof from the trading floor.
The benchmark general index of Dhaka Stock Exchange, DSEX, lost 0.08 per cent, or 3 points, on the day, to finish at 3,503.56 points.DGEN, the old benchmark general index of the DSE, finished at 3,653.88 points, shedding 0.18 per cent or 6.71 points.
The presence of investors at the merchant banks and the brokerage houses increased on Wednesday after the two-day general strike enforced by the BNP and its allies, but most of them chose to observe the situation rather than participating in the trading as the prolonged political instability continued to dominate investors’ sentiment, said market operators.
Along with the retail investors, the institutional ones and the big ones are also refraining themselves from trading, which is another reason for the sluggishness of the market, they added.
Merchant bankers predicted that the sluggishness of the capital market might exist throughout the year which will obviously effect the business environment of the country.
They said that merchant banks had no scope to increase investments in the capital market as they got stuck for the last two years with the margin loans which were provided to the clients.
They also urged the Bangladesh Bank and the finance ministry to give some policy support to boost the market up.
The blue-chip index of the bourse, DS30, finished at 1,308.37 points, losing 0.07 per cent or 1.02 points.
The turnover of the bourse declined to Tk 112.84 crore from the earlier trading session’s Tk 130.22 crore.
‘Following a delayed start in observance of the National Mourning Day over mass deaths in building collapse tragedy yesterday [Wednesday], the market ended mildly negative with the DSEX losing 3.00 points,’ said IDLC Investments in its daily market commentary.
Meanwhile, as investors presumed a negative impact of the building collapse tragedy on the textile sector outlook, the sector lost 1.19 per cent after positive moves in the previous sessions, it also said.
Newly-listed stocks continued to capture significant share of daily turnover.
Non-banking financial institutions gained the most as a sector as the sector went up by 5.41 per cent, while non-life insurance went up by 4.32 per cent.
Of the 272 issues traded on Thursday, 101 advanced, 140 declined, and 31 remained unchanged.
Beximco Ltd topped the day’s turnover list as its shares worth Tk 5.82 crore changed hands.
Reckitt Benckiser Ltd led the gainers’ list as its shares went up by 7.24 per cent.
Pragati Insurance was the worst loser of the day as its share price declined by 14.62 per cent.
newagebd
-With New Age input
