Dhaka stocks dropped sharply on Sunday as investors went for sell-offs fearing political unrest surrounding verdict against former Jamaat-e-Islami chief Ghulam Azam in
the cases of crimes against humanity committed by him in 1971.
The International Crimes Tribunal-1 Sunday morning announced that it is set to deliver today its verdict against Ghulam Azam.
DSEX, the benchmark general index of Dhaka Stock Exchange, lost 1.32 per cent, or 56.32 points, to close at 4,206.60 points.
The old index of the bourse, DGEN, shed 1.72 per cent, or 81.01 points, to close at 4,603.45 points.
DS30, the blue-chip index of the DSE, dropped by 0.88 per cent or 14.28 points, to close at 1,605.89 points.
Turnover of the bourse declined sharply to Tk 581.61 crore on Sunday from the previous session’s Tk 730.42 crore.
In the last few weeks the market was upbeat with a rapid increase in turnover following a number of government initiatives to revive the market.
Market operators said investors became shaky anticipating political unrest after the ICT-1 announced the verdict date against former Jamaat chief Ghulam Azam.
They said the previous
verdicts delivered by the ICT against Jamaat leaders infused violent protests by the supporters and activists of Jamaat across the country in which a number of people were killed.
‘Investors fear that verdict against Ghulam Azam might create political instability,’ said a stockbroker.
He said investors went for sell-offs fearing the possible unrest.
Of the 285 issues traded on the day, 46 advanced, 225 declined, and 14 remained unchanged.
Among the major sectors, non-bank financial institutions was the biggest loser with a 3.61-per cent loss on the day.
Telecommunication lost 2.34 per cent, banks 1.29 per cent, power 0.79 per cent and pharmaceuticals declined by 0.75 per cent on the day.
Padma Oil topped the turnover chart on Sunday with its shares worth Tk 57.14 crore changing hands.
The other turnover leaders were Grameenphone, Meghna Petroleum, Olympic, Jamuna Oil, Square Pharmaceuticals, Bangladesh Submarine Cable, Bangladesh Shipping Corporation, Unique Hotel and Titas Gas.
-With New Age input
