The turnover of the Dhaka Stock Exchange dropped sharply on Sunday, the first trading session of the week, with share prices falling as investors remained worried anticipating further fall.
The bourse’s turnover declined to Tk 220.24 crore on the day from Tk 403.80 crore in the previous trading session. Market operators said investors’ participation on the trading floor decreased sharply on the day as they feared further fall in share prices following the announcement of the monetary policy for the period of July-December 2013 which lowered the private sector credit growth rate by 3 per cent.
Fears over political unrest after the Eid-ul-Fitr was another reason for the fall as the main opposition party leaders announced that they would go for tougher movement demanding caretaker government after Eid, they said.
The turnover of the DSE hit Tk 1,294.61 10 crore on July 10 which was highest after Tk 1,341.26 crore on July 31, 2011 following the government’s decision on a Tk 900 crore refinance for the capital market.
DSEX, the benchmark general index of the bourse, declined by 1.49 per cent, or 59.47 points, on the day, to finish at 3,919.72 points.
The DSEX declined by 156.78 points in the last two trading sessions after a rise of 146.93 points in the previous one.
‘Fear of further decline acted as the catalyst behind huge sell pressure and forced the market to end in negative territory,’ IDLC Investments said in its daily market commentary.
‘Volatility surged in line with scrip wise swings from the very beginning and continued throughout the session,’ it also said.
DGEN, the old key index of the bourse, declined by 1.19 per cent, or 4,260.66 points, to closed at 4,260.66 points.
The blue-chip index of the DSE, DS30, declined to 1,448.46 points, shedding 2.01 per cent or 29.80 points on Sunday.
Bangladesh Submarine Cable Company led the turnover chart on the day with its shares worth Tk 17.19 crore changing hands.
Meghna Petroleum, Grameenphone, Padma Oil, Unique Hotel and Resorts, Titas Gas, Olympic Industries, Active Fine Chemicals and Bangas were also on the list.
Fifth ICB Mutual Fund gained the most on the day as its share price increased by 7.86 per cent, while Nitol Insurance Company lost the most, shedding 9.97 per cent.
-With New Age input
