Dhaka stocks dropped for the fourth trading session on Wednesday with a fall in turnover as the ongoing political violence across the county continued to impact on investors.
DSEX, the benchmark general index of Dhaka Stock Exchange, declined by 0.71 per cent, or 30.45 points, to close at 4,240.12 points.DS30, the blue-chip index of the bourse, finished at 1,468.45 points, shedding 0.66 per cent or 9.80 points.
Market operators said that political violence over the next national polls continued to impact on the investors’ sentiment as they were anticipating further fall in the market.
Another section of investors adopted a ‘wait-and-see’ policy as they were not sure about business and political prospect, they said.
The turnover of the DSE declined to Tk 482.67 crore on Wednesday from Tk 593.72 crore in the previous trading session.
Of the 296 shares and mutual funds traded, 56 advanced, 209 declined and 31 remained unchanged.
‘Another dull day passed over the bourse. Broad
index DSEX closed at 4,244 points, losing 26 points amid directionless trading behaviour from the investors,’ IDLC Investments
said in its daily market commentary.
It said, ‘Moreover, turnover plunged about 19 per cent, as market could not offer profitable prices.’
Quite akin to recent sessions, the market was upbeat at the beginning, but quickly started losing momentum as session progressed, it added.
Generation Next Fashions led the turnover leaders with its shares worth Tk 36.46 crore changing hands.
LankaBangla Finance, Argon Denims, Golden Son, Delta Life Insurance, Envoy Textiles, RN Spinning Mills, Paramount Textile, S Alam Cold Rolled Steels and Rangpur Dairy and Food Products were also among the other top turnover leaders.
Sinobangla Industries gained the most with an 8.39-per cent rise in its share price, while Rahima Food lost the most, shedding10 per cent.
-With New Age input
