Dhaka stocks declined for the six trading session on Sunday with the key index of Dhaka Stock Exchange, DSEX, hitting four-and-half-month low as most of the investors refrained from trading fearing further fall. The DSEX on Sunday, the first trading session of the week, fell by 0.32 per cent, or 14.44 points, to close at 4,402.50 points, the lowest since January 8 when the index was at 4,391.27 points.
The DSEX have now declined by 173 points in last six trading sessions.
Market operators said that due to the recent sharp fall in the market, investors became panicky in an apprehension that the market might decline further.
Followed by the apprehension, a large scale of investors opted to wait and see the market trend to take their next investment move, said operators.
Investors have been suffering from lack of confidence for last three weeks, following finance minister AMA Muhith’s declaration that there would be no scope of legalising undisclosed money at the capital market in the next budget, said operators.
Before the previous week, the Bangladesh Bank in a bid to control the banks’ capital market investment had fined and warned some banks for increasing their capital market investment beyond the allowable limit, dejected investors, they said.
The shakiness turned into panic as the High Court on Wednesday declared illegal a Bangladesh Securities and Exchange Commission directive issued on November 22, 2011
that had asked sponsor-directors of listed companies to individually hold minimum 2 per cent shares of the paid-up capital of their respective companies.
Along with that, investors did not find any sign of budgetary incentives for the ailing capital market in the coming budget and that dissatisfied investors.
Besides, after the demutualisation of the stock exchanges and formation of demutualised boards, stock exchanges were yet to take any visual effort to boost investors’ confidence over the new boards, said operators.
These altogether are responsible behind the fresh dullness in the market, they said.
DS30, the blue-chip index of the bourse, declined to 1,597.91 points, shedding 0.40 per cent or 6.47 points.
The Shariah index of DSE, DSES, finished at 981.77 points, sleeping 0.31 per cent or 3.07 points.
Turnover of the bourse decined to Tk 229.19 crore compared with Tk 305.34 crore in the previous trading session.
Sunday’s turnover was lowest after Tk 224.28 crore on April 13 this year.
Of the 287 shares and mutual funds traded on the day, 109 advanced, 145 declined and 33 remained unchanged.
Hwa Well Textile Mills led the turnover chart as its shares worth Tk 12.49 crore changed hands.
Golden Son, Grameenphone, Orion Pharmaceuticals, Lafarge Surma Cement, Apex Footwear, Matin Spinning, Square Pharmaceuticals, Emerald Oil and Eastern Housing were among the other turnover leaders.
Ambee Pharma gained the most on the day as its share prices increased by 16.48 per cent, while Golden Son declined the most, 21.08 per cent.
-With New Age input
