Dhaka stocks declined for the fourth trading session on Tuesday due to investors’ focus on newly-listed companies amid some panic-driven share sell-offs, market operators said.
The key index of Dhaka Stock Exchange, DSEX, declined to 4,898.82 points, shedding 0.37 per cent or 18.60 points. As the investors mostly focused on the newly-listed companies to make quick return, shares of other companies got relatively low attraction, resulting fall in share prices of most listed companies, stockbrokers sad.
The market operators also said the investors might have become panicky and reduced their participation in the trading due to the recent downbeat vibe on the market.
Asked about the downtrend of the market, a senior official of a merchant bank told New Age, ‘The investors’ intense attraction on the newly-listed companies might be the main reason for the recent downtrend in the capital market as there is no capital market unfriendly news that could depress them.’
Out of the day’s top 10 turnover leaders, four were the newly-listed companies and their turnover hit Tk 109.92 crore.
DS30, the blue-chip index of DSE, slipped by 0.82 per cent, or 15.04 points, to close at 1,814.93 points on the day.
The shariah index of the bourse, DSES, inched down to 1,150.34 points, shedding 0.53 per cent or 6.23 points.
Of the 305 shares and mutual funds traded on the day, 125 advanced, 147 declined and 33 remained unchanged.
Turnover of the bourse declined to Tk 627.99 crore from Tk 691 crore in the previous trading session.
‘With the loss of 106.8 points in last four consecutive sessions, downbeat sustained across the market,’ IDLC Investments said in its daily market commentary.
‘Since, index continued remaining below 5,000.0 points psychological level, fear condensed amid investors and subsequently taking toll on market movements,’ it said.
‘Stocks ended the day moderately below the flat line fading the morning gain as investors upheld their cautious mode amid declaration of corporate earnings,’ LankaBangla Securities said in its daily market analysis.
‘Meanwhile, several stocks, which declared earnings number late last week, have started reacting to their earnings,’ it said.
Khan Brothers PP Woven Bag Industries in its debut trading on Tuesday led the turnover chart and gained the most.
Shares worth Tk 58.89 crore changed hands on the day.
Jamuna Oil, Western Marine Shipyard, Shahjibazar Power Company, Barakatullah Electro Dynamics, DESCO, Keya Cosmetics, Olympic Industries, Saif Powertec and Pharma Aids were among other turnover leaders of the day.
Bdcom Online was the worst loser of the day as its share prices fell by 15.79 per cent.
-With New Age input
