Dhaka stocks declined on Tuesday after a rise in the previous trading session with a decline in the turnover as political unrest across the country made investors panicky.
The headline DSEX index dropped to 4,277.54 points, shedding 1.77 per cent or 77.33 points.
DS30, the blue-chip index of the bourse, declined by 1.75 per cent, or 26.96 points, to close at 1,508.30 points on Tuesday.
Market operators said that nationwide political unrest unnerved investors.
If the political situation remains uncertain, the market will remain volatile, they said.
The turnover of the bourse declined to Tk 726.20 crore on Tuesday from Tk 750.61 crore in the previous trading session.
‘As clock starts ticking for upcoming elections, turbulent political frontier once again took hold of investors’ perception, depressing market sentiment,’ IDLC Investments said in its daily market commentary.
‘Due to fear driven pressure, the DSEX corrected 77 points while the turnover remained encouraging, at Tk 700 crore level as contrarian investors pumped up activities,’ it said.
It said, ‘Consistent with previous sessions, investors’ favoured basket of stocks remained mostly unchanged, with textile leading in turnover accompanied by pharmaceuticals.’
Of the 290 shares and mutual funds traded on the day, 60 advanced, 209 declined and 21 remained unchanged.
Out of the traded 30 bank shares, 28 declined.
Orion Pharma led the turnover leaders with its shares worth Tk 33.61 crore changing hands.
RN Spinning Mills, Generation Next Fashions, Paramount Textile, Summit Purbanchol Power Company, Envoy Textile Mills, Grameenphone, CMC Kamal, Bengal Windsor Thermoplastics and Meghna Petroleum were also among the other top turnover leaders.
Fu-Wang Ceramic gained the most as its share price increased by 9.74 per cent, while Samorita Hospital lost the most, shedding 20.06 per cent.
-With New Age input
