Dhaka stocks declined on Tuesday after sharp rise in the previous trading session as some investors sold shares to make profit, while some others decided to wait until any further direction from the government regarding newly imposed gain tax on individual investors.
The key index of the bourse, DSEX, declined to 4,401.88 points, shedding 0.31 per cent or 14.07 points on the day.
Market operators said that most of the investors were skeptical whether the government will withdrew the newly imposed gain tax or sustain it with the final budget.
That is why they decided to wait-and-see in making next investment move to get final decision from the government in this regard, they said.
Another section of investors, who bought shares on Sunday during sharp fall after the government in the proposed finance bill imposed gain tax on individual investors, sold shares to make some profit after increase in share prices on Monday, said stockbrokers.
‘Lately, trend-following investors started gripping profit alongside their focus on sector-specific movements,’ IDLC Investments said in its daily market commentary.
‘Afterwards, sentiment turned more cautious,’ it said.
‘During the day [Tuesday], Lafarge Surma’s 5 per cent interim cash dividend disclosure concentrated investors much on it and being the mostly traded scrips of the day,’ it said.
Meanwhile, a section of investors staged demonstration in front of the bourse demanding withdrawal of all capital market unfriendly proposals for the proposed budget for 2014-15.
DS30, the blue-chip index of the bourse, declined by 0.28 per cent, or 4.59 points, to close at 1,624.45 points.
The shariah index of the bourse, DSES, closed at 1,012.90 points, slipping 0.24 per cent or 2.52 points.
Turnover of the DSE increased to Tk 452.24 crore compared with Tk 420.58 crore in the previous trading session.
Of the 295 shares and mutual funds that changed hands, 103 advanced, 161 declined and 31 remained unchanged.
Shares of Lafarge Surma Cement traded the most on the day as its shares worth Tk 54.81 crore changed hands.
Square Pharmaceuticals, BSRM Steel Mills, Eastern Housing, GPH Ispat, Grameenphone, Appollo Ispat, Navana CNG, MJL Bangladesh and Heidelberg Cement were among other turnover leaders.
Appollo Ispat gained the most as its share prices increased by 7.08 per cent, while Midas Financing lost the most shedding 6.29 per cent.
-With New Age input
