Dhaka stocks dip for 4th day on polls-centric cautiousness

Dhaka stocks dropped on Tuesday, stretching the negative run to four consecutive sessions as watchful investors continued selling shares ahead of the national election scheduled for December 30.
DSEX, the key index of Dhaka Stock Exchange, lost 0.37 per cent, or 19.93 points, to close at 5,275.76 points on Tuesday. The DSEX shed 85.33 points in last four sessions.
The key index began with a brief gain, but lost the momentum soon after and finished the session in the negative territory as investors remained cautious amid the political activities ahead of the 11th parliamentary polls, market operators said.
They said that investors feared political uncertainty as the electioneering began on Monday across the country.
The turnover on DSE plunged to Tk 483.46 crore on Tuesday compared with that of Tk 567.67 crore in the previous trading session.
Market operators said a surge in the banks’ non-performing loans to total at Tk 99,370 crore and a Centre for Policy Dialogue research that exposed plundering of Tk 22,502 crore from the country’s banking sector in last 10 years made investors shaky.
EBL Securities in its daily market commentary said, ‘Banks’ provisioning shortfall along with rising NPLs (non-performing loans) dampened the mood of investors and compelled them to remain sharp-eyed ahead of the national election.’
Average share prices of telecommunication, pharmaceutical, non-bank financial institution and bank dropped by 1.07 per cent, 0.81 per cent, 0.20 per cent and 0.19 per cent respectively.
Among the large capitalised scrips, a plunge in share prices of Grameenphone, Square Pharmaceutical, Khulna Power and BRAC Bank weighed on the index.
On the other hand, share prices of food and cement advanced by 3.23 per cent and 0.45 per cent respectively.
The pharmaceutical sector led the turnover on Tuesday by holding 20 per cent of the day’s total turnover.
Of the 336 companies and mutual funds traded on Tuesday, 202 declined, 100 advanced, and 39 remained unchanged.
DSE blue-chip index DS30 also dipped by 0.05 per cent, or 0.97 points, to close at 1,848.72 points.
Shariah index DSES lost 0.53 cent, or 6.58 points, to finish at 1,213.19 points.
VFS Thread Dyeing led the turnover leaders with its shares worth Tk 23.40 crore changing hands.
SK Trims, JMI Syringes & Medical Devices, Khulna Power Company, Rupali Life Insurance Company, Sonali Aansh, Wata Chemicals, National Tea Company, National Tubes and The IBN SINA Pharmaceutical Industries were the other turnover leaders.
Anlima Yarn Dyeing gained the most on the day with a 9.85-per cent increase in its share prices, while Information Services Network was the worst loser, shedding 9.82 per cent.
Source: http://www.newagebd.net

Tags :

Share this news on:

Previous Story

Archive