Dhaka stocks declined sharply on Sunday, the first trading session of the week, with increased turnover amid investors’ share sell-offs of large capitalised companies.
The key index of the Dhaka Stock Exchange, DSEX, declined to 4,938.65 points, shedding 1.72 per cent or 86.44 points. DS30, the blue-chip index of DSE, fell by 2.76 per cent, or 51.62 points, to close at 1,815.36 points.
Market operators said large capitalised companies’ shares lost the most on the day amid investors share switching move to small capitalised companies’ shares after the scrips rose sharply in recent times.
‘Top 20 traded stocks constituted 49 per cent of total turnover of the market today. Large-cap stocks took the hit,’ LankaBangla Securities said in its daily market analysis.
‘Today, among the major sectors, cement and telecommunication sectors took the most hit losing 5.71 per cent and 2.37 per cent respectively in market capitalisation,’ it said.
The investors remained cautious in taking the next investment decisions amid government’s move to execute the death penalty of Jamaat leader Muhammad Kamaruzzaman, said the market operators.
‘Although nothing happened serious in the political field on some recent issues including Jamaat-enforced general strikes and BNP-called protest programme, the investors might have taken cautious stance to see the developments, former DSE president Shakil Rizvi told New Age.
He, however, hoped that the market would return to positive vibe within couple of trading sessions as all the capital market-related instruments were in favour of the market.
‘Preceding week’s waning tone extended further as today’s market slumped amid buoyant turnover,’ IDLC Investments said in its daily market commentary.
‘All the three indices plummeted while the blue-chip DS30 retrenched most,’ it said.
Turnover of the bourse, however, increased to Tk 857.75 crore compared with that of Tk 620.17 crore in the previous trading session.
The shariah index of DSE, DSES, dropped by 1.90 per cent, or 22.44 points, to close at 1,157.85 points.
Of the 306 shares and mutual funds traded on the day, 112 advanced, 156 declined and 38 remained unchanged.
Western Marine Shipyard led the turnover chart on the day as its shares worth Tk 63.08 crore changed hands.
Keya Cosmetics, Appollo Ispat Complex, DESCO, Lafarge Surma Cement, Ratanpur Steel Re-Rolling Mills, Saif Powertec, Khulna Printing and Packaging, Shahjibazar Power Company and Bangladesh Building Systems were among other turnover leaders.
National Polymer gained the most on the day as its share prices rose by 32.11 per cent, while Ratanpur Steel Re-Rolling Mills lost the most shedding 12.15 per cent.
-With New Age input
