Dhaka stocks ended down on Thursday after a two-day rise which was preceded by a seven-day fall due to renewed tensions on the country’s political front.
The key index of Dhaka Stock Exchange, DSEX, finished at 3,507.85 points, shedding 0.51 per cent or 18.27 points. The DSEX had gained 68.03 points in the previous two trading sessions after losing 436.51 points in seven trading sessions.
Market operator said investors were worried about the market trend amid fresh political tensions.
They also said that the stock market might not be stable until the political confrontations end.
Political stability in the country is much needed for a stable capital market, they said.
An investor said the country’s stock market would not be stable if the political turmoil persisted.
The DGEN, old benchmark general index of the bourse, declined by 0.44 per cent, or 16.46 points, to finish at 3,657.03 points on the day.
The DGEN had gained 63.08 points in the previous two trading sessions after losing 366.48 points in seven trading sessions.
DS30, the blue-chip index of the bourse, declined by 0.66 per cent, or 8.80 points, to finish at 1,310.96 points on the day.
The DS30 had advanced by 26.52 points in the previous two trading sessions after losing 134.96 points in seven trading sessions.
‘After displaying sporadic movement throughout the session, the DSEX posted a moderate 18.28 points loss as week ended. Natural buy pressure slowed as market sentiment backtracked over political developments,’ IDLC Investments said in its daily market commentary.
‘In addition, some profit-taking took place as two consecutive green sessions have generated some short-term gains for investors. However, overall participation stayed dry as investors still refrain from fresh investments over grim investment outlook,’ it said.
Total 4,51,33123 shares worth Tk 145.40 crore changed hands on the day.
Of the 265 issues traded on the day, 126 advanced, 116 declined, and 23 remained unchanged.
Newly-listed securities on Thursday continued to dominate the trading as Premier Cement advanced by 3.02 per cent while Orion Pharma declined by 2.98 per cent and Argon Denims declined by 3.27 per cent on the day.
Fuel and power sector gained the most on Thursday with a 0.26-per cent rise and pharmaceuticals sector increased by 0.24 per cent.
Premier Cement topped the turnover leaders of the day with its shares worth Tk 8.04 crore changing hands on the day.
The other turnover leaders were United Airways, Orion Pharma, Lafarge Surma Cement, Argon Denims, Generation Next Fashions, RN Spinning Mills, Unique Hotel, Beximco and Bangladesh Submarine Cable Company.
-With New Age input
