Dhaka stocks declined on Thursday, the last trading session of the week, after rising in the previous trading session amid rumour-driven share sales.
The key index of Dhaka Stock Exchange, DSEX, declined to 5,285.83 points, shedding 0.55 per cent or 29.27 points. Market operators said that in line with last couple of trading sessions’ negative vibe, the market declined on the day following rumours on Bangladesh Bank’s tightened monitoring over the capital market, mandatory Tax Identification Number for Beneficiary Ownership Account opening and the downtrend vibe of the market that might prolong for more trading sessions.
Union Capital managing director Akter H Sannamat told New Age, ‘Profit taking might be the main reason behind the downward vibe in the capital market for last couple of trading sessions.’
‘Besides, investors’ share switching move from sector to sector to re-arrange their portfolio was also another reason,’ Akter, also the vice-president of Bangladesh Merchant Bankers Assocation, said.
On the other hand, a baseless rumour spread among the investors in recent time that the market correction might prolong for few more trading sessions, he said.
Asked about a rumour that the TIN will be mandatory for all investors for opening new BO Account, former DSE vice-president Ahmed Rashid Lali told New Age, ‘There might have been rumour in this regard. But we are not informed about any such binding.’
DS30, the blue-chip index of the bourse, finished flat at 1,997.79 points, shedding 0.21 per cent or 4.29 points.
The Shariah index of the bourse, DSES, declined by 0.50 per cent, or 6.31 points, to close at 1,242.46 points on the day.
The turnover of the bourse declined to Tk 814.41 crore compared with Tk 975.25 crore in the previous trading session.
Of the 303 shares and mutual funds traded on Thursday, 88 advanced, 187 declined and 28 remained unchanged.
‘The market emerged red as clients remained more cautious amid the increased level of volatility,’ IDLC Investments said in its daily market commentary.
‘The shakiness was reined in the later part of the session, beating down market sentiment,’ it said.
‘Besides, scrip-wise movements were present with 55 scrips changing more than 3 per cent of their respective prices,’ said IDLC.
BESCO led the turnover chart as its shares worth Tk 39.42 crore changed hands.
Titas Gas, Square Pharmaceuticals, MJL Bangladesh, Bangladesh Building Systems, Grameenphone, Delta Life Insurance, Heidelberg Cement, Peninsula Chittagong and BEXIMCO were among other turnover leaders.
BESCO shares gained the most on the day as its share prices rose by 9.59 per cent, while Fu Wang Food were among other turnover leaders.
-With New Age input
