Stocks fell slightly yesterday, after a day’s rally, as renewed worry over the latest political development gripped investors.
The Dhaka Stock Exchange extended its trading session to 2:45pm instead of usual 2:30pm as trading was suspended at around 2:20pm due to power failure in the network setup.
The benchmark DSEX index lost more than 23 points or 0.6% to 4,265. The DS30 Index comprising blue chips also dropped over 8 points or 0.6% to 1,472.
The Chittagong Stock Exchange Selective Category Index, CSCX, shed nearly 43 points to 8,392.
After the previous sessions’ sudden spike, the DSE turnover went down to Tk460 crore, which was 35.7% lower from six-session high of Tk700 crore.
“Hesitation of market sentiment appeared again as investors went cautious, pulling down index,”
said IDLC Investment in its market analysis.
Despite positive textile export data, the sector was the worst loser declining 2.52% as investors’ weighted expected suboptimal performance of the sector in the future.
Lanka Bangla Securities said the market showed certain degrees of volatility and uncertainty with weak market turnover.
It seems like all eyes are on outcome of ruling party’s stance to come to a consensus on the recent slaying political tensions, which is yet to show any abatement, it said.
Some major sectors saw selling pressure as investors are anticipating that business would start scaling back in next quarter on account of ongoing unrest, it added.
“Investors bagged profit on large and mid-cap securities, where textile sector got the highest beat in market losing 2.5% capitalisation.”
All the sectors ended lower except general insurance and tannery that edged higher. Non-banking financial institutions posted the highest loss more than 1%. It was followed by telecommunications, pharmaceuticals, power and banks.
Losers took a strong lead over the gainers as out of 289 issues traded, 96 advanced, 154 declined and 39 remained unchanged.
Generation Next Fashion was the most traded stocks, followed by RN Spinning, Bangladesh Electrodes Ltd, Lanka Bangla Finance and Golden Son