Dhaka stocks dipped for the second trading session on Wednesday, the last trading session of the week, with declined turnover as investors opted to go slow amid rise in political tension.
The key index of the bourse, DSEX, finished at 4,823.57 points, shedding 0.31 per cent or 15.06 points on the day. Major political party BNP’s preparation on anti-government movement ahead of January 5, 2015, which coincides with the completion of first year into power of the ruling Awami League, demanding fresh elections, was investors’ main consideration for their slow participation on the trading floor, stockbrokers said.
Some investors opted to take their next investment move considering political situation, they said.
Besides, participation of institutions backed by banks was slow on the trading floor ahead of the year closure was another reason behind the recent negative vibe at the capital market, said stockbrokers.
A Bangladesh Bank directive to bring down the banks’ capital market exposure within the stipulated limit kept the institutional investors on the sideline, they said.
Launch of new trading system at the DSE was the other reason behind investors’ slow participation in the trading, they said.
DS30, the blue-chip index of DSE, fell by 0.25 per cent, or 4.52 points, to close at 1,786.87 points on the day.
The Shariah index of DSE, DSES, closed at 1,138.69 points, slipping by 0.37 per cent or 4.24 points.
Turnover of the bourse declined to Tk 191.75 crore on Wednesday compared with that of Tk 202.52 crore in the previous trading session.
Of the 309 shares and mutual funds traded on the day, 101 advanced, 168 declined and 40 remained unchanged.
‘While market struggled to remain positive, waves of sell pressure beat it down, in frequent intervals, causing it to close flat,’ IDLC Investments said in its daily market commentary.
‘In the meanwhile ahead of year end, investors remained cautious amid some fear of volatility in the political landscape,’ it said.
‘Benchmark index extended the loss on the day as investors are yet to find any near term trigger,’ LankaBangla Securities said in its daily market analysis.
‘Broad market is likely to consolidate at this level because concerns in terms of macro data like export, remittance flow and political outlook still remain and no direction has come out yet to push the market up,’ said LankaBangla.
Square Pharmaceuticals led the turnover chart on the day as its shares worth Tk 9.03 crore changed hands.
Grameenphone, Saif Powertec, Lafarge Surma Cement, Beximco Pharma, Agni Systems, Brac Bank, IDLC Finance and Summit Alliance Port were among other turnover leaders.
ICB Amcl Second Mutual Fund gained the most on the day with 4.44 per cent increase in share prices, while Zeal Bangla Sugar Mills was the worst loser of the day shedding 9.78 per cent.
-With New Age input
