Dhaka stocks inched down on Monday as some institutional investors went for profit taking sell-offs after the previous day’s rise. The turnover on the Dhaka Stock Exchange, however, increased as investors remained optimistic that the United Nations assistant secretary general’s move might break the current political stalemate. Stocks had gained on Sunday after a two-day fall amid the optimism.
DSEX, the benchmark general index of Dhaka Stock Exchange, lost 0.29 per cent, or 12.74 points, to close at 4,289.82 points on Monday.
DS30, the blue-chip index of the bourse, declined by 0.36 per cent, or 5.43 points, to finish at 1,495.99 points.
The turnover of the bourse increased to Tk 647.36 crore from Tk 526.59 crore in the previous trading session.
Market operators said the market finished down as some institutional investors went for profit taking sell-offs.
‘Initially upbeat market ended flat, settling for slightly below 4,300 points level,’ IDLC Investments said in its daily market commentary.
The bearish vibe was heavily influenced by the dire strait of economic activities in the country with no solid promise of turnaround, it said.
‘However, entrance of contrarian investors boosted turnover by 23 per cent, which absorbed much of the selling pressure, helping stocks to stay steady,’ IDLC said.
It said, ‘A few scrips have dominated investors’ mindset today [Monday], and remained at the centre of increased activities, as observed in top 10 active stocks’ capturing over Tk 200 crore turnover.’
Of the 291 shares and mutual funds traded Monday, 132 advanced, 130 declined and 29 remained unchanged.
Generation Next Fashions led the turnover leaders with its shares worth Tk 33.36 crore changing hands.
Delta Life Insurance, Golden Harvest Agro Industries, Paramount Textile, Central Pharmaceuticals, RN Spinning Mills, Bengal Windsor Thermoplastics, Golden Son, Argon Denims and Orion Pharmaceutical were also among the top turnover leaders.
Rahima Food gained the most with a 9.84-per cent rise in its share price, while Libra Infusions lost the most, shedding 7.81 per cent.
-With New Age input
