Dhaka stocks declined for the second trading session on Sunday with remarkable decline in turnover as investors opted for wait-and-see move regarding the political situation to take fresh investment move. The key index of the Dhaka Stock Exchange, DSEX, declined to 4,549.51 points, shedding 0.62 per cent or 28.47 points on the day. Turnover of the DSE declined to Tk 494.06 crore on Sunday compared with that of Tk 632.21 crore in the previous trading session.
With the increase in number of political programmes including an eight-hour general strike on Sunday called by Islami Chhatra Sena demanding arrest of and trial for the killers of its party leader Nurul Islam Farooqi that made investors shaky to take their next investment move, market operators said.
Due to investors’ watchful attitude the overall turnover of the bourse declined sharply, resulting a negative ending on the day, they said.
Investors who have sold shares in recent time to make some profits also remained on the sideline to observe the market trend in taking their next investment decisions, the operators said.
Amid downtrend it the market, some multinational companies’ share prices increased on the day after seeing downward trend for some sessions, they said.
Investors’ safe stocks hunting might be the reason behind the upward trend of the scrips, they said.
The operators said the investors after Eid-ul-Fitr had increased their participation on the trading floor in an expectation that the market might remain positive for couple of weeks amid stable political and business situation.
DS30, the blue-chip index of the bourse, fell by 0.73 per cent, or 12.64 points, to close at 1,713.82 points on Sunday.
The shariah index of DSE, DSES, finished at 1,057.37 points, declining 0.82 per cent or -8.75 points.
Of the 297 shares and mutual funds traded on the day, 99 advanced, 172 declined and 26 remained unchanged.
‘The bourse shaded over increment in volatility and plunge in overall participation,’ IDLC Investments said in its daily market commentary.
‘Since, scrip-wise swings sustained for second consecutive session, with 59 out of total traded scrips changing more than 3 per cent, investors extended their meticulous tone,’ it said.
‘Meanwhile, activity dwindled and down-hilled total market turnover by 21.85 per cent to stay below Tk 500-crore mark, lowest within last eleven sessions,’ said IDLC.
BEXIMCO led the turnover chart as its shares worth Tk 40.30 crore changed hands.
Beximco Pharmaceuticals, MJL Bangladesh, Golden Son, Bangladesh Building System, Grameenphone, BSRM Steel Mills, Lafarge Surma Cement, FAR Chemicals and Appollo Ispat Complex were among other turnover leaders.
Mozaffar Hossain Spinning Mills gained the most on the day as its share prices increased by 7.40 per cent, while Far East Knitting & Dyeing Industries Limited lost the most, shedding 8.81 per cent.
-With New Age input
