Stocks back to negative zone in choppy trading

Dhaka stocks dropped in the past week amid a fall in prices of two-third scrips as investors were assessing the political activities surrounding the national election.
DSEX, the key index of Dhaka Stock Exchange, lost 0.47 per cent, or 24.70 points, to close at 5,281.25 points on Thursday, the last trading session of the week after gaining 61.32 point in the previous week.
The trading on the bourse was choppy over the week with DSEX beginning the week with 30-point loss on Sunday and then inching up in the next two sessions before inching down in the last two sessions.
EBL Securities in its weekly market commentary said that the market edged in lower as most of the investors followed cautious stance ahead of the national elections. 
During the week, investors followed a cautious strategy with some of them remaining busy in rebalancing their portfolio, the brokerage house also said.
Market operators said that investors were observing the current political activities surrounding the national polls scheduled to be held on December 30.
Average share prices of energy, non-bank financial institution, bank and telecommunication dropped by 2.3 per cent, 2.1 per cent, 0.6 per cent and 0.4 per cent respectively.
Among the large capitalised scrips, share prices of Khulna Power Company plummeted by 21 per cent while United Power Company, Square Pharmaceuticals declined by 5.3 per cent each that weighed on the index.
On the other hand, a section of investors bought shares from the bearish market with an expectation that the market would be better after the national election scheduled to be held on December 30, they said.
Average share prices of miscellaneous, textile and pharmaceuticals sectors advanced 5.0 per cent, 3.5 per cent and 2.1 per cent respectively. 
The daily average turnover on the bourse dipped to Tk 630.77 crore in last week from Tk 657.35 crore in the previous week.
Out of the 346 traded issues, 206 declined, 117 advanced and 23 remained unchanged.
DS30, the blue-chip index of DSE, shed 0.40 per cent, or 7.41 points, over the week to close at 1,861.56 points.
Shariah index DSES also lost 0.33 per cent, or 4.08 points, to close at 1,223.47 points.
Khulna Power Company led the turnover chart with its shares worth Tk 129.30 crore changing hands in the week.
Saiham Textile Mills, United Power Generation and Distribution Company, SK Trims & Industries, Intech Limited, Saiham Cotton Mills, Shepherd Industries, Kattali Textile, Square Pharmaceuticals and Paramount Textile were the other turnover leaders.
Monno Jute Stafflers gained the most in the week with a 25.66-per cent increase in its share prices, while Kohinoor Chemicals Company was the worst loser, shedding 22.84 per cent.
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