Dhaka stocks declined on Wednesday after two sessions on the up on profit-taking sales.
The benchmark general index of the Dhaka Stock Exchange, DSEX, lost 0.27 per cent, or 11.70 points, on the day to finish at 4,284.13 points while the old key index of the bourse, DGEN, shed 0.44 per cent, or 21.08 points, to finish at 4,754.12 points.The DSEX and DGEN had gained 89.23 and 171.75 points in the last two sessions respectively after losing 138.85 and 167.03 points the in earlier two.
Profit-taking moves following the last two sessions’ increase in shares prices was an important reason behind the fall, Southeast Capital Services Limited senior vice-president Alamgir Hosain told New Age.
He said some of the investors also went into selling in fear of political unrest following the declaration of death sentence against the Jamaat-e-Islami leader Ali Ahsan Mohammad Mojaheed by the International Crimes Tribunal-2 for war crimes in 1971.
While Union Capital chief executive officer Akhter Hossain Sannamath said big market capitalisation companies’ profit-taking moves was the main reason behind the negative end of the session.
A section of investors handled their trading on the basis of recently disclosed financial reports, he added.
DS30, the blue chip index of the bourse, finished at 1,640.69 points, losing 0.81 per cent, or 13.52 points.
The turnover of the bourse declined to Tk 986.78 crore from the previous session’s Tk 1,024.14 crore.
Titas Gas led the turnover chart on the day as its shares worth Tk 116.27 crore changed hands, while fuel and power sector captured 36.55 per cent of the day’s total turnover.
‘After two straight escalating sessions, the bourse ended flat, today [Wednesday] as profit booking and re-positioning acted in opposite directions. Additionally, scrip wise movement speeded up over upcoming corporate declarations,’ IDLC Investments said in its daily market commentary.
‘In the meantime, investors were watchful on political situations. Participation continued to remain cheerful as turnover was close to Tk 1,000 crore level,’ it also said.
Among the 288 shares and mutual funds traded on the day, 106 advanced, 160 declined and 22 remained unchanged.
Renwick Jajneswar gained the most on Wednesday as the price of its shares increased by 9.96 per cent, while Delta Life Insurance lost the most, 18.64 per cent.
-With New Age input
