Dhaka stocks declined on Wednesday as the big investors were inactive on the trading floor, opting to observe the political situation before making their next move.
The benchmark general index of the bourse, DSEX, lost 0.41 per cent, or 16.39 points, to close at 3,940.80 points on the day. The DSEX have now lost 34.32 points in the last two trading sessions after gaining 55.40 points in the earlier one.
DGEN, the old key index of the bourse, finished at 4,342.31 points, losing 0.72 per cent, or 31.17 points.
DS30, the blue chip index of the DSE, added 0.12 per cent, or 1.92 points, to finish flat at 1,483.07 points.
The big investors remained out of the trading floor as the opposition party leaders announced that they would go for tougher agitation programmes to press home the demand for a caretaker government after the Eid-Ul-Fitr. They were observing the political situation before making investments, market operators said.
Sell-offs by the retail investors to get some cash ahead of the Eid was another reason behind the mixed trend in the market, they said.
The turnover of the bourse advanced to Tk 373.58 crore from the previous session’s Tk 344.73 crore.
Among the 287 shares and mutual funds traded on the day, 97 advanced, 169 declined and 21 remained unchanged.
‘The bourse maintained horizontal line for the second consecutive session. Investors’ pursuance of ‘wait & see’ strategy kept the participation sluggish. As a result, turnover continued to hover around Tk 350.00 crore level for last three sessions,’ IDLC Investments said in its daily market commentary.
‘Cautious trading, including portfolio rebalancing at lucrative prices were active in anticipation of post Eid scenario. Consequently, the market ended flat and DGEN remained at 4,300 points level for the third straight session,’ IDLC said.
‘Alongside the sectors, scrip wise movements existed throughout the session amid half-yearly declarations in recent times,’ it also said.
Meghna Petroleum led the turnover chart on the day as its shares worth Tk 32.45 crore changed hands.
Bangladesh Submarine Cable Company, Padma Oil, Grameenphone, Olympic Industries, Jamuna Oil, UCB, RN Spinning Mills, Titas Gas, Square Pharmaceuticals and Family Tex were the other turnover leaders on the day.
-With New Age input
