Dhaka stocks declined for the third trading session on Thursday with a sharp fall in the turnover due to panic sell-offs from investors amid political violence across the country.
The turnover of Dhaka Stock Exchange dropped to Tk 366.51 crore from Tk 580.30 crore in the previous trading session. The benchmark general index of the bourse, DSEX, declined to 4,230.72 points, shedding 0.88 per cent or 37.93 points.
The DSEX lost 124.16 points in the last three trading sessions.
Market operators said investors seemed hesitant about taking their next investment moves amid the current uncertainties on the political front.
Investors were in selling mood and retail as well as some institutional investors might have adopted a ‘wait-and-see’ policy in taking their next investment decisions amid the violent political situation, they said.
They also said that the turnout of investors in the brokerage houses and merchant banks remained thin on Thursday like the previous two days amid a blockade programme enforced by the opposition alliance.
‘Fear and hesitation dominated market sentiment in today’s [Thursday] session, causing a squeeze in turnover to Tk 366 crore level and thrashing the broad index DSEX to 4,230.73 points,’ IDLC Investments said in its daily market commentary.
It said, ‘Gradually, a confirmation of trend reversal is building up in the market, creating nervousness among the investors, especially the late entrants.’
DS30, the blue-chip index of the DSE, decreased by 0.80 per cent, or 12.23 points, to close at 1,503.78 points on Thursday.
Of the 281 shares and mutual funds changed hands on the day, 89 advanced, 163 declined and 29 remained changed.
Delta Life Insurance led the turnover leaders with its shares worth Tk 33.99 crore changing hands on the day.
RN Spinning Mills, Paramount Textiles, Generation Next Fashions, Orion Pharma, Jamuna Oil, Bengal Windsor Thermoplastics, Bangladesh Building Systems, Central Pharmaceuticals and GPH Ispat were also among the other top turnover leaders.
Standard Ceramic gained the most with a 6.04-per cent rise in its share price, while Zeal Bangla Sugar Mills lost the most with a 6.25-per cent fall.
-With New Age input
