Dhaka stocks fall amid topsy-turvy trading

Dhaka stocks on Wednesday fell marginally again in typical pre-elections nervy trading after rising moderately in the previous day, said market operators.
DSEX, the key index of Dhaka Stock Exchange, lost 0.35 per cent, or 19.09 points, to close at 5,380.78 points on Wednesday after gaining 15.47 points on Tuesday.
The DSEX began the day with marginal gains but did not sustain for long and finished the session in the negative territory amid investors’ cautious trading, market operators said.
‘The trading on DSE today [Wednesday] has all the signs of typical pre-elections cautiousness. We have been observing such nervy trading with moderate gain or loss of the index for the last few days,’ said a stockbroker. 
He said that there were sideways movements as investors were unsure which sector they would prefer amid the rise in political activities ahead of the elections.
The general elections are due to be held in next three months.
Besides, market operators said, some investors might have liquidated their investments eyeing the debut trading of Indo-Bangla Pharmaceuticals Limited.
The trading of the pharma company will commence today.
‘Market started positive but later Turnover in on the index failed to continue the upward trend as investors opted to realise gain from their holdings and also adopted watchful stance,’ said EBL Securities in its daily market commentary.
The financial sectors led the dive as non-bank financial institutions and bank sectors dropped 0.4 per cent and 0.3 per cent respectively.
Share prices of cement, pharmaceuticals and textile sectors also declined on the day.
Among the large capitalised scrips, plunge in share prices of Summit Power, Square Pharmaceuticals, Beximco Pharmaceuticals and Investment Corporation of Bangladesh weighed on the index most.
On the other hand, a section of investors went on bargain hunting share purchasing from sector specific companies. Share prices of United Power Generation Company, Olympic Industries, Grameenphone and Berger Paints Bangladesh increased most on the day.
Average share prices of food, telecommunication and energy sectors advanced 0.8 per cent, 0.3 per cent and 0.1 per cent respectively that saved the market from further fall.
The turnover on DSE advanced to Tk 511.44 crore on Wednesday compared with that of Tk 492.52 crore in the previous trading session.
Of the 336 companies and mutual funds traded on Wednesday, 183 declined, 96 advanced, and 57 remained unchanged.
DS30, the blue-chip index of DSE, shed 0.27 per cent, or 5.29 points, to close at 1,897.88 points.
Shariah index DSES lost 0.45 per cent, or 5.74 points, to finish at 1,248.43 points.
United Power Generation Company led the turnover chart with its shares worth Tk 42.89 crore changing hands.
Khulna Power Company, Dragon Sweater, Summit Power, IFAD Autos, VFS Thread Dyeing, BBS Cables, Olympic Industries, Silva Pharmaceuticals and Nurani Dyeing were the other turnover leaders.
Bangladesh Finance and Investment Company gained the most on the day with a 9.75-per cent increase in its share prices, while Fine Foods was the worst loser, shedding 9.79 per cent.
Source: http://www.newagebd.net

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