Stocks fall after Eid holidays

Turnover on Dhaka Stock Exchange hit three-month low yesterday as investors refrained from taking fresh positions anticipating a gloomy political environment in the country.
Said to be the most important indicator of the market, it declined 24.58 percent to Tk 162 crore.
The free float-based index, DSEX, closed the day at 3,916.83 points, after surging 24.85 points or 0.63 percent.
After a long Eid vacation, market opened on a bullish mood relying on thin buying pressure, said LankaBangla Securities in its daily analysis. “Overall volume activity indicates that the market is yet to reach the full vibrant mode after the holiday.”
“Overall scenario was indicating investors' watchful tendency over future directions and political dimensions,” stated IDLC Investments in its analysis.
Investors positioned in fundamentally lucrative scrips after mid-session, the investment banker said.
An aggregate of 0.47 lakh trades were executed with 3.33 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the 272 issues that traded on the DSE floor, 164 advanced, 86 declined and 22 remained unchanged.
All the major sectors posted marginal gains, non-bank financial institutions was leading with 0.86 percent gain followed by power 0.56 percent, pharma 0.52 percent, banks 0.13 percent and telecoms 0.10 percent.
Bangladesh Submarine Cable Company featured in the most traded stocks chart with 5.8 lakh shares worth Tk 17.35 crore changing hands.
ICB AMCL First Mutual Fund was the day's highest gainer, as it posted 11.89 percent rise, while Prime Bank First ICB AMCL Mutual Fund was the worst loser, plunging by 13.11 percent.
The Chittagong Stock Exchange also gained with its selective categories index, CSCX, closing the day at 7,713.38 points, after gaining 44.93 points or 0.58 percent.
Gainers beat losers by 84 to 59 with 28 issues remaining unchanged on the port city bourse that traded 0.39 lakh shares and mutual fund units worth Tk 14.70 crore in turnover.