Stocks declined for the second straight session amid choppy trading yesterday, as the investors continued to take profit amid mixed corporate earnings declaration.
The market swung between positive and negative throughout the session, as investors played both sides of the fence.
The benchmark DSEX lost more than 19 points or 0.4% to close at 5,154, hitting the highest value, 5,139, in the morning.
The Shariah index DSES dropped 4 points or 0.8% to 1,203. The comprising blue chips DS30 was down 14 points or 0.8% to 1,919.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, declined 29 points to 9,595.
The trading recouped slightly on DSE and amounted to Tk545 crore, registering an increase of nearly 18% over the previous session’s three-month lowest value of Tk462 crore.
LankaBangla Securities said investors continued to take some profit off the table amid mixed corporate earnings declaration.
It said fear of political turbulence after the war crimes verdict against Jamaat-e-Islami chief Motiur Rahman Nizami might have made the investors shaky.
IDLC Investments said market survived above 5,100 point-mark despite investors’ weak confidence and low flow of funds.
It said following the third quarter earnings and year-end corporate disclosures, investors continued to re-balance their portfolio position.
Among the large cap sectors, fuel and power and non-banking financial institutions appreciated by 1.6% and 1% respectively.
All the other sectors closed in red with telecommunication lost the most of 1.4%, followed by banks shedding over 1%.
Pharmaceuticals and food and allied sectors also ended with marginal declines.
Gainers, however, outpaced losers as out of 305 issues traded, 169 advanced, 104 declined and 32 remained unchanged on the DSE.
Summit Purbanchol Power Company was the most traded stock with shares worth Tk27.8 crore changing hands, followed by Grameenphone, Khulna Power Company Limited, Mobil Jamuna Limited Bangladesh and Khulna Printing and Packaging Limited.
Desh Garment was the day’s highest gainer, posting a rise of 14% while Popular Life Insurance was the day’s worst loser, plunging by more than 20% following its price adjustment after record date.
