Dhaka stocks declined on Wednesday after three sessions on the up as the investors opted to sell shares amid uncertainty over a consensus between the ruling party and the opposition.
\nThe benchmark general index of Dhaka Stock Exchange, DSEX, slid to 3,946.01 points, shedding 1.08 per cent, or 43.12 points.\u00a0DS30, the blue-chip index of the DSE, eased 0.15 per cent, or 2.19 points, to finish at 1,402.24 points on the day.
\nThe DSEX and DS30 had gained 189.87 points and 43.40 points respectively in the three previous trading sessions.
\nOf the 280 shares and mutual funds traded on the day, 124 advanced, 125 declined and 31 remained unchanged.
\nUncertainty over the expected dialogue between the prime minister and the leader of the opposition was the main reason behind Wednesday\u2019s fall, said market operators.
\nFall in shares prices of the banks was another reason behind the negative finish as the sector lost 3.44 per cent with 26 issues declining, two gaining and two remaining unchanged.
\nA natural correction in the banks\u2019 shares is culpable as the sector had gained around 8 per cent in the last three trading sessions, the operators observed.
\nA political consensus over the polls-time government might ease the political crisis and have a positive impact on the market, they added.
\n\u2018Tri-session long streak broke today as quarterly declarations and political vibes shook market sentiment,\u2019 IDLC Investments said in its daily market commentary.
\n\u2018Poor quarterly declarations, especially in heavyweight Bank sector sparked disappointments amid investors, and thus accelerated the downward roll. Consequently, six scrips of this sector emerged at the top ten losers list,\u2019 IDLC said.
\n\u2018Meanwhile, turnover also trailed back to Tk 384.33 crore, as investors remained meticulous and opted to stay watchful over the changing turnaround phenomenon. Apparently, today\u2019s session can best be termed as a precautionary movement by investors,\u2019 it also said.
\nThe turnover of the bourse declined to Tk 384.33 crore from the previous session\u2019s Tk 391.57 crore.
\nGeneration Next Fashions led the turnover chart on the day as its shares worth Tk 28.15 crore changed hands.
\nBangladesh Submarine Cable Company, Argon Denims, UCB, Summit Purbanchol Power Company, Malek Spinning, Envoy Textile Mills, United Airways, BEXIMCO and Takaful Insurance were the day\u2019s other turnover leaders.
\nBangladesh Building Systems gained the most as the price of its shares increased by 9.64 per cent, while One Bank lost the most, 9.93 per cent.<\/p>\n

-With New Age<\/strong> input<\/p>\n","protected":false},"excerpt":{"rendered":"

Dhaka stocks declined on Wednesday after three sessions on the up as the investors opted to sell shares amid uncertainty over a consensus between the ruling party and the opposition. The benchmark general index of Dhaka Stock Exchange, DSEX, slid to 3,946.01 points, shedding 1.08 per cent, or 43.12 points.\u00a0DS30, the blue-chip<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[4],"tags":[],"yoast_head":"\n