Dhaka stocks ended flat for the third trading session on Wednesday amid thin investors’ participation on the trading floor on the second day of the 36-hour general strike.
The benchmark general index of the Dhaka Stock Exchange, DSEX, finished at 3,506.56 points, shedding 0.24 per cent or 8.70 points on the day.DGEN, the old benchmark general index of the bourse, lost 0.04 per cent, or 1.80 points, on the day, to finish at 3,660.59 points.
The DSEX and DGEN had lost 64.71 and 46.89 points respectively in the last four trading sessions after gaining 18.76 and 12.87 points last week.
Few investors were active on the trading floor as it was the second day of the 36-hour general strike enforced by the BNP and its allies, said stockbrokers.
The capital market remained sluggish due to the ongoing crisis on the political front as the investors opted to observe the developments instead of participating on the trading floor, they said.
Merchant bankers blamed the political crisis for the market downtrend and urged the government to ensure that political stability is restored for the betterment of the country’s economy.
Moves from the Bangladesh Bank and the finance ministry are very much needed to ensure a vibrant capital market and sustain the momentum for the long term, they also said.
The blue chip index of the bourse, DS30, finished at 1,307.34 points on Wednesday, as it declined by 0.008 per cent, or 0.11 points.
The turnover of the DSE increased to Tk 130.22 crore from earlier trading session’s Tk 121.42 crore.
‘Erratic zigzags ended in another flat session, prolonging the dullness to fourth consecutive session. Since nothing has changed significantly in political dynamics, gloomy expectations continued to roam in the market, keeping prices mostly static,’ IDLC Investments said in its daily market commentary.
‘Therefore, amid apparent lack of direction, DSEX seemed to anchor slightly above 3500 as week progressed,’ it also said.
Textile sector occupied 16.66 per cent of the day’s total turnover while newly-listed Bengal Windsor Thermoplastics, Orion Pharma, Premier Cement and Summit Purbanchol Power Company were the ruling companies, capturing 14.93 per cent of the day’s turnover.
Among the 276 issues traded on the day, 114 advanced, 126 declined and 36 remained unchanged.
Bengal Windsor Thermoplastics topped the day’s turnover chart as its shares worth Tk 10.09 crore changed hands.
Anwar Galvanizing led the gainers’ list as its shares went up by 10 per cent while Jute Spinners lost the most, 8.62 per cent.
-With New Age input
