Dhaka stock finished flat on Wednesday with most of the bank’s shares traded on the day dropping amid rising tension on the political front.
The benchmark general index of Dhaka Stock Exchange, DSEX, finished at 4,333.79 points, adding 0.09 per cent, 4.25 points. DS30, the blue-chip index of the bourse, closed at 1,500.85 points, adding 0.11 points.
The turnover of the bourse declined to Tk 715.95 crore from Tk 746.05 crore in the previous trading session.
Market operators said though most of the companies’ share prices increased, the market ended flat due to decline in the share prices of large capitalised companies including banks.
Of the 30 banks traded on Wednesday, 21 declined, four advanced and five remained unchanged.
Rising tension centring political parleys with the mediation of United Nations assistant secretary-general for political affairs Oscar Fernández-Taranco to settle the current political dispute made investors shaky, they said.
‘Closing flat in the end, today’s [Wednesday] market movements were rather unsure, as market reaction was mixed regarding commitment of political forces to sit together and end violence,’ IDLC Investments said in its daily market commentary.
It said, ‘Since confidence could not solidify, doubts obstructed further rise of optimism.’
In the foreground of it, the market started optimistic in the initial few moments, but started to lose points as the sector with the largest cap, banking sectors lost 0.76 per cent, IDLC said.
‘Although, textile and non-life insurance gained 2.50 per cent and 1.12 per cent respectively, due to low capitalisation of these sectors the gains were not enough to offset the fall of bank,’ it also said.
Of the 291 shares and mutual funds traded Wednesday, 153 advanced, 111 declined and 27 remained unchanged.
Generation Next Fashions led the turnover leaders with its shares worth Tk 26.89 crore changing hands.
Paramount Textile, RN Spinning Mills, Golden Son, Delta Life Insurance, Aamra Technologies, Delta Spinners, Keya Cosmetics, Central Pharmaceuticals and Argon Denims were also among the top turnover leaders.
Beach Hatchery gained the most with a 9.96-per cent rise in its share price, while First Bangladesh Fixed Income Fund lost the most, shedding 6.59 per cent.
-With New Age input
