Dhaka stocks dropped on Sunday, the first trading session of the week, with the turnover decreasing amid tension on the political front.
DSEX, the benchmark general index of Dhaka Stock Exchange, declined by 1.29 per cent, or 46.12 points, to finish at 3,525.14 points.The DSEX on the day started positive as it gained more than 15 points within the first 45 minutes of the session but the index began to fall when the news over a fresh general strike by the opposition alliance hit the market.
The opposition alliance will enforce a 36-hour general strike from Tuesday protesting at the denial of bail to seven top BNP leaders.
Market operators said participation of investors was good at the beginning of the day’s trading, but the investors got panicked following the news over the general strike.
They said the investors had become optimistic about the market after the Bangladesh Securities and Exchange Commission eased rules for margin account holders but the recent political unrest made the investors shaky.
The old benchmark general index of the bourse, DGEN, declined by 1.09 per cent, or 40.50 points, to close at 3,666.98 points on the day.
The blue-chip index of the DSE, DS30, finished at 1,306.57 points, shedding 1.16 per cent or 15.41 points.
The turnover of the bourse declined to Tk 177.78 crore from Tk 202.85 crore in the previous session.
Of the 272 issues traded on the day, 68 advanced, 185 declined, and 19 remained unchanged.
‘Sluggish mood of the market continued to drive up investors’ anxieties, putting them off the bourse. Additionally, volatility in political arena kept sentiment bearish, as business outlook stayed gloomy. Financial sector dipped today, due to disappointing earnings declarations from several scrips in the sectors,’ IDLC Investments said in its daily market commentary.
Bengal Windsor Thermoplastics Ltd, a newly-listed issue, topped the turnover chart on the day as its shares worth Tk 15.05 crore changed hands.
Ibn Sina gained the most on the day as its share price increased by 12.91 per cent, while Phoenix Finance and Investments Ltd was the worst loser as its share price declined by 21.59 per cent.
-With New Age input
