Stocks ended flat yesterday, extending the losing streak for the fifth session in a row as political uncertainty continued to dampen investor sentiment.
The benchmark DSEX index lost 16 points or 0.4% to settle at 4,664.
The Shariah index DSES was marginally up 1 points or 0.2% to 1,112. The comprising blue chips DS30 closed at 1,730, shedding almost 7 points or 0.4%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, declined 56 points to 8,666.
Volume of trade improved at the Dhaka Stock Exchange, driven by debutant Shasha Denims that accounted for more than 13% of the total turnover of Tk266 crore, which was 20% higher over the previous session.
However, the company, in its first trading day, showed relatively lackluster performance compared to recent IPOs, advancing by only 6% at the end of the day.
Cement sector shined rising almost 2%, driven by heavyweight Lafarge Surma Cement that gained 3% ahead of its dividend decelerations.
But dividend expectations from banks, which remained under pressure for long due to piles of bad loan, failed to ignite buying mood of the investors, as the sector lost 1.3%.
Almost all other sectors such telecommunication, non-banking financial institutions and pharmaceuticals, declined.
Lanka Bangla Securities said market set for a steep correction for the fifth consecutive session as bearish stance continued to batter market sentiments. “All eyes are now on the government’s move on issue of arrest warrant for opposition leader as court has not yet rejected the petition.”
IDLC Investments said the humdrum declining trend extended for another session, coupled with anemic activities drive mostly by capital protection motivation.
After Shasha Denims, other top turnover leaders include Shahjibazar Power Company, Lafarge Surma Cement, Summit Alliance Port Limited, Social Islami Bank Limited, Square Pharmaceuticals and IFAD Autos.
