Dhaka, Bangladesh (BBN) - Dhaka stocks edged lower on Wednesday, a day after sharp rise amid volatile trading throughout the session as investors were somewhat confused to the direction of the market.
Market analysts said that the investors might in dilemma on the day as Dhaka Stock Exchange (DSE) annual general meeting will be held today (Thursday) where the directors will elect the DSE president.
The market opened with a positive note, gaining almost 30 points within five minutes. After that it demonstrated a steady decline of 50.13 point within first two hours of trading. However it recovered some points in the later hours and finally ended 12 points lower.
The benchmark general index of the Dhaka Stock Exchange (DGEN), the yardstick of the market went down by 12.80 points or 0.28 per cent to close at 4,510.91.
The broader All Shares Price Index (DSI) plummeted 9.98 points or 0.26 per cent to close at 3,782.90. The DSE-20 Index comprising blue-chip shares also lost 22.82 points or 0.63 per cent to close at 3595.77.
“With no significant change in the investment scene, investors were confused as to the direction of the market,” IDLC Finance Limited said in its daily market analysis.
Meanwhile, five more sponsor-directors Wednesday expressed their intention to buy shares of their respective companies at prevailing market price through Stock Exchange within next 30 working days.
Out of 257 issues traded, 83 advanced, 157 declined and 17 remained unchanged.
Turnover value improved slightly and stood at BDT 3.20 billion compared to BDT 3.16 billion in the previous session.
A total of 66.03 million shares changed hands on the day against 69.21 million in the previous session. The trade deals also decreased to 99,950 against Tuesday’s 102,332.
The total market capitalization of the DSE stood at BDT 2,360.01 billion against BDT 2,361.80 billion in the previous session.
Investors were active throughout the session, and market movements were led by uptrend in telecommunications and life insurance which gained 1.26 per cent and 0.66 percent.
Whereas downtrend was observed in fuel and power, banks, engineering, non-banking financial institutions (NBFIs) and pharmaceuticals which lost 0.25 percent, 0.44 percent, 0.56 percent, 0.62 percent and 0.87 percent respectively.
Beximco Limited topped the turnover chart on the day with shares worth BDT 345.06 million changing hands.
The other turnover leaders were Beximco Limited, GP, United Airways, Titas Gas, Beximco Pharma, MI Cement, Keya Cosmetics, Jamuna Oil and RN Spinning.
Keya Cosmetics was the day’s highest gainer posting a rise of 6.05 per cent.
It was followed by Berger Paint, Monno Staffer, EBL NRB MF, RN Spinning, Apex Spinning, GQ Ball Pen, Fine Foods, NLI First MF and International Leasing.
The day’s worst losers included Libra Infusion, Imam Button, N National Housing Finance, Salvo Chemicals, Al-Haj Textile, Kay and Que, Sinobangla Industries, Fifth ICB, Federal Insurance and Hakkani Pulp and Paper.
BBN/SSR/AD-15Mar12-9:00 am (BST)
