Dhaka stocks declined on Thursday, last trading session of the week, after a two-day rise due to a decreased participation of institutional investors. The key index of Dhaka Stock Exchange, DSEX, finished at 4,984.46 points, shedding 0.42 per cent or 21.19 points.
The market on Thursday started positive with optimistic share purchasing by the retail investors, stockbrokers said.
They said that decline in the share prices of large capitalised companies and a decreased institutional participation resulted in fall in the key indices despite increase in the most traded scrips.
‘Although, the capital market-related indicators are supportive for the market, stocks finished negative due to an inadequate participation by the institutional investors,’ Union Capital managing director Akter H Sannamat told New Age.
DS30, the blue-chip index of the DSE, fell by 0.57 per cent, or 10.78 points, to close at 1,860.15 points.
The Shariah index of the bourse, DSES, closed at 1,174.54 points, shedding 0.42 per cent or 5.47 points.
Of the 297 shares and mutual funds traded on the day, 152 advanced, 112 declined and 33 remained unchanged.
Turnover at the bourse declined to Tk 694.57 crore compared with that of Tk 846.32 crore in the previous trading session.
‘While the market struggled to remain positive, waves of selling pressure beat it down, causing to close flat,’ IDLC Investments said in its daily market commentary.
‘Alongside, volatility was prominent, like previous three sessions as investors continued preferring micro capitalised scrips,’ it said.
‘The market took some correction as index is yielding to profit booking pressure,’ LankaBangla Securities said in its daily market analysis.
‘Earnings upgrade continued to support the market, whereas profit taking on engineering, cement, pharma, and telco stocks discouraged the positive vibe of early session,’ it said.
Jamuna Oil led the turnover leaders on the day with its shares worth Tk 32.87 crore changing hands.
Western Marine Shipyard, Beximco, Aamra Technologies, Olympic Industries, Barakatullah Electro Dynamics, Ratanpur Steel Re-Rolling Mills, Saif Powertec, Beximco Pharma and Orion Infusions were among the other turnover leaders.
Pharma Aids gained the most on the day with a 16.42-per cent increase in its share price, while Beacon Pharmaceuticals was the worst loser, shedding 10 per cent.
-With New Age input
