Dhaka stocks declined for the second week in last week amid fall of turnover as most of the investors became inactive after making some profit in the previous week.
DSEX, the benchmark general index of Dhaka Stock Exchange, lost 1.90 per cent
or 67.70 points to close at 3,503.56 points.The previous benchmark index of the bourse, DGEN, lost 1.45 per cent or 53.61 points to close at 3,653.88 points.
The DSEX lost 18.76 points and the DGEN lost 12.87 points in the previous week after gaining in the earlier one.
The blue-chip index of the bourse, DS30, lost 1.03 per cent or 13.62 points to close at 1,308.37 points.
Average daily turnover of the DSE declined by 32.43 per cent to Tk 135.14 crore from previous week’s Tk 200.01 crore.
Market operators said many investors became inactive in the market again in last week after passing two vibrant weeks previously.
They said investors’ sentiment turned negative after the building collapse at Savar on Wednesday which housed five garment factories.
More than 300 people were killed by the collapse which indicates a major blow for the garment sector and the economy as well, said market insiders.
They said the institutional investors were reluctant to invest because of the ongoing political tension which would be fuelled by the Savar incident.
‘The market was dry last week as some investors made short-term gains and left the market,’ said a stockbroker.
He said the Savar tragedy would hit the economy hard which would also take its cut in the stock market.
‘The institutional investors and banks will be in more trouble if the macro economy suffers and they will have lesser money to invest in the stock market,’ he said.
He said the gloomy political and economic situation might affect the market in the coming days.
Of the total 289 companies and mutual funds traded last week, 75 advanced, 208 declined and 6 remained unchanged.
All the major sectors ended in the red last week except pharmaceuticals which advanced 1.49 per cent and telecommunication that gained only 0.03 per cent.
Financial sector posted significant losses in the week with non-bank financial institutions losing the most by 4.84 per cent, followed by bank that lost 2.34 per cent. Fuel and power also ended 2.23 per cent lower last week.
Newly-listed Bengal Windsor Thermoplastic was the week’s most traded share with shares worth Tk 45.04 crore changing hands.
The other turnover leaders were RN Spinning, Beximco, United Airways, Square Pharma, Summit Purbanchol Power, Aamra Technologies, Olympic Industries and Generation Next Fashions.
-With New Age input
