The market opened with a positive mood, but could not sustain. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) dipped below the 4,900-mark again, shedding 26.63 points or 0.54 per cent to and close at 4,899.60 points.
The other two indices also ended in the red. The DS30, comprising blue chips lost 11.82 points or 0.64 per cent to close at 1,814.69 points. The DSE Shariah Index shed 8.40 points or 0.72 per cent to close at 1,145.81 points.
The market participation continued dwindling, bringing down turnover to three-week low to Tk 4.86 billion, which was 15.55 per cent lower from the previous day’s turnover of Tk 5.76 billion.
The investors’ attention remained mostly focused on power, pharma and engineering – the sectors that accounted for 25 per cent, 14 per cent and 11 per cent of the day’s total turnover respectively.
“The market failed to grow on previous day’s upward momentum amidst the low level of confidence among the investors,” said International Leasing Securities in an analysis.
The overall investors’ participation took another blow which emphasized the fact that the market’s current situation failing to lure the investors towards any buying spree, said the International Leasing.
LankaBangla Securities said: “After passing the week mostly under selling pressure, market showed lack of participation in early trading and closed in the red”.
The losses on the day partly offset the strength that was seen in the previous session. Profit taking contributed to the early weakness while the day reckoned market turnover down by 15.55 per cent from previous day, said the stock broker.
“Investors remained cautious as market is yet to get any direction,” the stock broker added.
IDLC Investments said: “Having lack of any clear indication, market slid down again”.
Investors reacted pessimistically, following the news published in national dailies, the chief executive officer (CSE) change in largest market cap, GP, said the merchant bank.
The investors pursued more cautious stance. Meanwhile, volatility returned with consistent fluctuation in some of the mini cap stocks, facing major hit Thursday, said the merchant bank.
Among the large cap sectors only NBFIs managed to close positive with 0.71 per cent gain. Fuel and power and telecommunication witnessed heavy correction of 1.59 per cent and 1.47 per cent respectively.
Pharmaceuticals, food and allied and banks were also edged down by 0.42 per cent, 0.33 per cent and 0.32 per cent respectively.
The losers outpaced gainers as out of 295 issues traded, 149 declined, 114 declined and 32 issues remained unchanged on the DSE floor.
Activities decreased in the major bourse where volume and trade were down by 17.74 per cent and 24.22 per cent respectively. A total of 0.095 million trades were executed in day’s trading with trading volume of 104.63 million securities.
The total market capitalisation on the DSE stood at Tk 3,248.18 billion against Tk 3,271.51 billion in the previous session.
Jamuna Oil was the most traded stock with shares worth Tk 408.04 million changing hands followed by Khan Brothers PP Woven Bag, GP, BEDL and Meghna Petroleum.
GSP Finance was the day’s highest gainer for the second day, posting a rise of 7.60 per cent while newly listed National Polymer was the day’s worst loser, slumping by 15.21 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also returned to the red with its Selective Categories Index – CSCX – lost 58.58 points to close at 9,254 points.
Losers beat gainers 127 to 60, with 24 issues remaining unchanged at the port city bourse that traded 8.23 million shares and mutual fund units, turnover value of Tk 308.63 million.