Dhaka stocks ended negative on Sunday, the first trading session of the week, after a positive start due to profit-taking sell-offs in late trading.
The key index of Dhaka Stock Exchange, DSEX, declined by 1.03 per cent, or 43.76 points, to finish at 4,170.15 points on the day.The DSEX on the day advanced to 4,270.48 points, increasing by 100 points in the first hours of trading, but later it dropped due to profit-taking sell-offs.
The old key index of the DSE, DGEN, finished at 4,427.99 points, shedding 0.03 per cent or 1.6 points.
The DSEX and the DGEN had advanced by 701.97 and 773.14 points respectively from May 2 to June 23.
Market operators said share prices of most of the companies declined on the day as investors moved to book some profits.
Fall in share prices after rise in couple of trading sessions is normal on the stock market, they said.
The market is on rising trend from May following a finance ministry’s approval of Tk 1,266 crore in refinance for the stock market to implement the scheme for the investors who were affected by the stock market crash, they said.
The blue-chip index of the bourse, DS30, ended flat at 1,550.21 points shedding 0.17 per cent or 2.78 points.
The turnover of the bourse declined to Tk 660.09 crore on Sunday from the previous trading session’s Tk 685.57 crore.
Fuel and power sector dominated the market most on the day as the sector occupied 20.81 per cent of the day’s turnover.
Telecommunication sector occupied 11.42 per cent, textile sector 10.71 per cent and pharmaceutical sector 10.27 per cent on the day’s turnover.
‘Profit-taking tendency further dragged down the indices, particularly at the later part of today’s session. Resultantly, the bourse ended red; with free float based index DSEX fall by 43.77 points whereas, DGEN fall by only 1.64 points primarily due to incremental effect of GP,’ IDLC Investments said in its daily market commentary.
‘In the meantime, investors’ participation decreased slightly as their pursuance of “wait and see” strategy continued. However, market seemed a bit “indecisive” like earlier session to see whether DGEN crosses 4,500 points,’ it also said.
Of the 286 shares and mutual funds traded on the day, 36 advanced, 242 declined, and eight remained unchanged.
Bangladesh Submarine Cable Company Limited led the turnover chart with its shares worth Tk 41.69 crore changing hands on the day.
Meghna Petroleum, Grameenphone, Square Pharma, Summit Purbanchol Power Company, Familytex, Unique Hotel and Resorts, Jamuna Oil, Orion Pharma and Desco were also on the chart.
JMI Syringes and Medical Devices gained the most — 10 per cent, while Familytex lost the most — 10.52 per cent.
-With New Age input
