Stocks remain in gloom as political unrest lingers
Stocks ended flat for the third day yesterday as investors remained cautious amid ongoing political instability in Bangladesh.
The presence of investors at the brokerage firms was thin because of the ongoing blockade enforced by the BNP-led 18-party alliance. However, many investors executed trade over phone.
The market was in a positive mood in the first 30 minutes of trade but that did not sustain.
DSEX, the benchmark general index of the Dhaka Stock Exchange, closed the day at 4,270.58 points, after falling 10.13 points or 0.23 percent.
Turnover, the most important indicator for the market, stood at Tk 594 crore, which is up 19.27 percent from the previous day.
The market ended in the negative zone, leaving investors uncertain about market direction in the future, LankaBangla Securities said in its daily market analysis.
Today's trading session was slightly volatile as investors are still anxious about the country's political outlook, the stockbroker said.
A total of 1.38 lakh trades were executed with 15.13 crore shares and mutual fund units changing hands on the Dhaka bourse.
Gainers took a marginal lead over the losers as out of 289 issues traded, 150 advanced, 118 declined and 21 remained unchanged.
All major sectors lost today -- telecoms 0.84 percent, banks 0.77 percent, power 0.59 percent and non-bank financial institutions 0.3 percent.
Pharmaceuticals went up marginally by 0.08 percent.
Generation Next Fashion saw the highest liquidity with 73.50 lakh shares worth Tk 26.14 crore changing hands.
Deshbandhu Polymer was the day's highest gainer, posting a rise of 9.95 percent, while Islamic Insurance was the biggest loser, plunging 6.55 percent.
The Chittagong Stock Exchange also ended in the red, with its selective categories index, CSCX, losing 7.74 points, to close at 8,397.29 points.
Gainers beat losers 105 to 98, with 20 issues unchanged on the port city bourse that traded 2.62 crore shares and mutual fund units at a turnover of Tk 73 crore.
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