Dhaka stocks inched down on Thursday, the last trading session of the week, amid a declining turnover due to profit-taking moves by the investors.
The benchmark general index of the Dhaka Stock Exchange, DSEX, lost 0.11 per cent, or 4.65 points, to close at 4,127.48 points. The blue chip index of the bourse, DS30, closed at 1,540.02 points, adding 0.65 per cent or 10.07 points.
Market operators said that the investors had moved to book some profits following the recent rally. This trend might not continue for long as the government fund would be injected in the market soon and that will definitely have a positive impact on the market, they said.
The investors are confused regarding future developments in the political arena, which was another reason behind the market’s sluggishness, said the operators.
The Bangladesh Securities and Exchange Commission’s move to investigate unusual price hike of four companies might have upset the investors, which probably led the market to such an end, they added.
‘Volatile movement due to investors’ meticulous trading strategy stretched market’s sentiment to be flat for another trading session. As a result, the bourse ended with 4.65 points slide in DSEX,’ IDLC Investments said in its daily market commentary.
‘Natural correction as well as profit taking was vigilant throughout today’s [Thursday] session. As neither of the demand and supply forces could significantly dominate the session, market maintained a horizontal line,’ it also said.
The turnover of the bourse declined to Tk 540.72 crore from the previous trading session’s Tk 690.21 crore.
Among the 288 shares and mutual funds traded on the day, 103 advanced, 158 declined and 27 remained unchanged.
Bangladesh Submarine Cable Company led the day’s turnover chart as its shares worth Tk 36.16 crore changed hands.
Grameenphone, Heidelberg Cement, Tallu Spinning, Apex Tannery, Lafarge Surma Cement, Padma Oil, Meghna Petroleum, Delta Life Insurance and United Airways were the other turnover leaders on the day.
Navana CNG gained the most as the price of its shares increased by 9.03 per cent while Seventh ICB Mutual Fund lost the most, 9.88 per cent.
-With New Age input
