Dhaka stocks inched down on Tuesday for the fourth trading session as the turnover declined further amid fears of fresh unrest on the political front after the international crimes tribunal on the day handed BNP lawmaker Salauddin Quader Chowdhury death sentence in the case of crimes against humanity committed during the War of Liberation in 1971, said market operators.
The turnover of the DSE declined to Tk 240.19 crore on Tuesday from the previous session’s Tk 271.99 crore, which was the lowest after Tk 162.29 crore recorded on August 12.
DSEX, the benchmark general index of Dhaka Stock Exchange, lost 0.23 per cent, or 9.19 points, to close at 3,928.48 points.
The blue-chip index of the bourse, DS30, finished at 1,435.02 points, shedding 0.38 per cent or 5.49 points.
The DSEX and DS30 have now lost 209.45 points and 88.25 points respectively in the last 11 trading sessions.
The market had gained in only two sessions among the last 11.
Investors’ participation declined further on the day as they were apprehending further unrest on the political front because of the ICT verdict, said market operators.
Uncertainty regarding the next general elections as the ruling party and the opposition party are yet to reach an amiable solution also upset the investors, they added.
The Bangladesh Securities and Exchange Commission and DSE’s move to investigate unusual price hike of small capitalised companies’ shares was another reason behind the gamblers’ inactivity on the trading floor, said the operators.
‘Political anarchy fueled by today’s [Tuesday] verdict, shaded market sentiment during today’s [Tuesday] session,’ IDLC Investments said in its daily market commentary.
‘Additionally, profit booking in most of the Cap classes assisted DSEX to end flat with 9.19 points, negativity,’ it said.
‘Overall, market volatility backed by item wise swings existed as investors were focusing on short-term market scenario and remained careful in their trading activities,’ it also said.
Of the 286 shares and mutual funds traded on the day, 150 advanced, 113 declined and 23 remained unchanged.
Square Pharmaceuticals led the turnover chart as its shares worth Tk 8.15 crore changed hands while Argon Denims, Delta Life, CMC Kamal, JMI Syringes and Medical Devices, United Airways, Grameenphone, Bangladesh Submarine Cable Company, Meghna Petroleum, Rangpur Dairy and Food Products were the day’s other turnover leaders.
LR Global Bangladesh Mutual Fund One gained the most on the day as the price of its shares increased by 10 per cent, while Modern Dyeing and Screen Printing lost the most, 9.41 per cent.
-With New Age input
