Dhaka stocks declined for the second trading session on Tuesday amid technical glitch in trading with declining turnover due to investors’ deteriorating confidence in the market, market operators said. ‘We have received several complaints regarding technical problem in trading from different brokerage houses,’ said an official of the Dhaka Stock Exchange.Many of the bourse’s member houses informed that they were suffering from delay in trade execution, hang of server and short-selling due to the reason, he said.
DSE chief executive officer Swapan Kumar Bala told New Age, ‘We are aware of the problem and our department concerned is working to solve the problem accordingly. I hope the problem will be solved fully after the launch of new trading software which is now on process.’
The bourse has been suffering from various problems in trading especially debut trading sessions of new scrips since its inauguration of online-based trading software on June 10, 2012.
On Tuesday, the benchmark general index of DSE, DSEX, declined to 4,228.90 points, shedding 0.85 per cent or 36.33 points.
DS30, the blue-chip index of the bourse, declined by 0.88 per cent, or 13.06 points, to finish at 1,459.26 points.
The turnover of the DSE declined to Tk 374.37 crore from Tk 456.44 crore in the previous trading session.
Of the 285 shares and mutual funds changing hands on Tuesday, 66 advanced, 186 declined and 33 remained unchanged.
The market operators said that stagnancy in the political front became the main reason behind the downtrend in the market as the investors had adopted a ‘wait-and-see’ policy to take their next investment move.
All sectors of businesses are suffering badly due to the ongoing political unrest which is another consideration of investors to delay their investment, they said.
They also said improved political situation could help boost investors’ confidence.
‘Today’s session was disappointing for the investors without any glimmer of positivity in any front,’ IDLC Investments said in its daily market commentary on Tuesday.
‘Struggling in the initial hour, the bourse surrendered to pessimism, steadily losing in the later part of the session.
In line with Monday, textile (shares) again closed as the biggest loser contracting 1.32 per cent,’ it said.
Appollo Ispat Complex, on its debut, led the turnover chart on the day as its shares worth Tk 71.06 crore changed hands. Appollo also gained the most by adding 76.36 per cent to finish at Tk 38.80.
Golden Son, Generation Next Fashions, RN Spinning Mills, Bangladesh Building Systems, Padma Oil, Delta Life Insurance, Delta Life, Paramount Textile, Argon Denims and LankaBangla Finance were among other turnover leaders.
-With New Age input
