Dhaka stocks fell marginally in volatile trading on Sunday, the first trading session of the week, due to profit-taking share sell-offs by investors after an eight-session rise.
The key index of Dhaka Stock Exchange, DSEX, fell by 0.21 per cent, or 10.54 points, to close at 4,831.17 points on Sunday. The market ended negative amid volatility due to investors’ profit booking approach after the eight-day rise, stockbrokers said.
The DSEX had advanced 185 points in the eight trading sessions.
Gloomy political prospect might be another reason for the investors’ profit-taking approach, they said.
Turnover at the bourse declined to Tk 264.66 crore on Sunday compared with that of Tk 325.98 crore in the previous trading session.
‘Breaking an eight-session gaining trend, profit-booking in some mid capitalised stocks pushed the market to red,’ IDLC Investments said in its daily market commentary.
However, investors preferred micro capitalised scrips to grab return from daily volatility, it said.
‘Overall, investors remain concerned over country’s macroeconomic landscape, degrading day by day amid the ongoing political unrest,’ said IDLC.
‘The market lost some zeal today [Sunday] as bull had a pause for breath after rallying around 185 points in the last eight trading sessions,’ LankaBangla Securities said in its daily market analysis.
Persistent concern about the loss in business due to political unrest and economic outlook might have prevented stocks from rallying further, it said.
‘However, today’s [Sunday’s] loss can be attributed to profit-booking by investors,’ it said.
DS30, the blue-chip index of the DSE, finished at 1,804.89 points, shedding 0.41 per cent or 7.45 points.
The Shariah index of the bourse, DSES, closed at 1,147.12 points, shedding 0.24 per cent or 2.85 points.
Of the 310 shares and mutual funds traded on the day, 139 advanced, 131 declined and 40 remained unchanged.
BEXIMCO led the turnover leaders on the day with its shares worth Tk 11.24 crore changing hands.
IFAD Autos, CVO Petrochemicals, Grameenphone, Aamra Technologies, National Feed Mill, Beximco Pharma, MJL Bangladesh and RAK Ceramics were among the other turnover leaders.
National Feed Mill gained the most on Sunday with a 10.14-per cent increase in its share price, while NCCBL Mutual Fund-1 was the worst loser of the day, shedding 5.76 per cent.
-With New Age input
