Dhaka, Bangladesh (BBN) – Dhaka stocks continued to losing streak for the third consecutive session on Monday though it started on upbeat mood, market operators said.
The market opened with positive note, gaining more than 30 points within five minutes upon resumption of day’s trading. But, there after it started to decline amid fluctuation throughout the session and finally ended more than 30 points lower.
The benchmark general index of Dhaka Stock Exchange (DGEN), the main gauge of the market went down by 30.96 points or 0.73 percent to close at 4,183.52.
The broader All Shares Price Index (DSI) slipped 23.36 points or 0.66 per cent to close at 3,510.63.
However, the DSE-20 Index comprising blue-chip shares ended almost flat and advanced only 1.38 points or 0.04 per cent to close at 3,433.94.
The prices of most traded issues at the DSE declined as out of 253 issues traded, 94 advanced, 130 declined and 29 remained unchanged.
Turnover value, however, advanced slightly and stood at BDT 2.30 billion against BDT 2.13 billion in the previous session.
A total of 54.49 million shares changed hands on the day against 51.78 million in the previous session. The trade deals decreased to 75,654 against Sunday’s 80,268.
The total market capitalization of the DSE stood at BDT 2,228.83 billion against BDT 2,245.66 billion in the previous session.
“Continuous low turnover as well as lack of institutional participation exemplified investor’s cautiousness regarding spontaneous investment,” commented IDLC Finance Ltd. in its daily market analysis.
However, due to sturdy market monitoring and surveillance efforts by the Securities and Exchange Commission (SEC) and the DSE, aggressive sale pressure has not been observed in the market, the commentary added.
Telecommunications sector was the biggest loser and lost 3.85 per cent among all the sectors, following post dividend adjustment of Grameenphone (GP). But the GP topped the turnover chart with shares worth BDT 214.96 million changing hands.
Saiham Textile was the day’s highest gainer posting a rise of 6.99 percent while Shympur Sugar Mills was the day’s worst loser and lost 7.89 percent.
BBN/SSR/AD-21Feb12-12:50 pm (BST)