Dhaka stocks ended four-day losing streak on Thursday with the bourse’s general index inching up by 4.50 points amid volatile trading as investors remained skeptical about the possibility of end to the ongoing political impasse. The benchmark general index of Dhaka Stock Exchange, DSEX, closed flat at 4,244.63 advancing by 0.10 per cent.The DSEX increased to 4,257.66 points in first 30 minutes of trading, but the index lost around 40 points within next 20 minutes as investors moved to sell-off shares anticipating further fall.
The market finished positive because of buying in last few minutes after remaining in negative area most of the trading hours.
DS30, the blue chip index of the bourse, declined by 0.09 per cent, or 1.38 points, to finish at 1,467.06 points.
The DSEX and DS30 had declined by 93.67 points and 32.40 points respectively in precious four trading sessions.
The turnover of the DSE declined to Tk 475.11 crore from Tk 482.67 crore in the previous trading session.
Market operators said that most of the investors had continued with the ‘wait-and-see’ policy to take the next investment move as they were not sure about the political prospect of the country.
They also said that improvement in the political front might help to
regain investors’ confidence over the market and boost it up.
‘After encountering zigzags throughout the day, DSEX barely made it to the green zone in Thursday’s session,’ IDLC Investments said in its daily market commentary.
‘The gloominess was quite natural, given that the perception regarding political and economic arena remained miserable,’ it said.
‘Activities were rather slow, too, as it became difficult to balance or rebalance portfolio, amid this messy outlook,’ it said.
Generation Next Fashions led the turnover chart as its shares worth Tk 38.81 crore changed hands.
Golden Son, Paramount Textile, Argon Denims, Delta Life Insurance, RN Spinning Mills, Delta Spinners, Lankabangla Finance, S Alam Cold Rolled Steels and Family Tex were among other turnover leaders.
-With New Age input
