Stocks fell yesterday after remaining flat over the last several sessions, as fear grew about anticipation of prolonged political crisis.
The benchmark index DSEX settled at 4,943, shedding 25 points or 0.5%.
The Shariah index DSES lost marginally 8 points or 0.7% to 1,173. The comprising blue chips DS30 closed at 1,835 with a drop of 18 points or 1%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, was down 30 points to 9,194.
Investors’ participation in trading remained dull as turnover value hovered around Tk300 crore over the last several sessions, which was considered poor compared to the market depth.
The DSE turnover stood at Tk308 crore, up 4.8% over previous session’s value.
“In the beginning investors believed that there might be quick political settlement,” said a leading stock broker. But after political violence spreading across the country in the last one week, panic started to engulf investors.
The country is going through non-stop blockade called by the 20-party alliance demanding for fresh national election since January 5, which hit the supply chain.
All the large cap sectors closed lower with cement leading the way by sliding almost 3%.
Most other sectors, including banks, non-banking financial institutions, food and allied, telecommunication, pharmaceuticals and power, edged down.
However, some of the small caps rallied, led by mostly textile sector that gained 1.5%.
News of export growth has been welcomed by the investors, and among the top ten gainers six coming from textile sector. The sector also captured the highest turnover as well as highest daily return.
BRAC-EPL, one of the leading brokerage firms, said, “The market closed in red amid political instability in the country and investors’ confidence erosion.”
LankaBangla Securities said investors’ remained cautious throughout the day amid countrywide blockade, as benchmark index continue to consolidate between 4,900 and 5,000 points.
IDLC Investments said bumpy journey on DSE continued while mainstream political condition remained in a fix.
Lafarge Surma Cement remained at the top of the liquidity chart for the seventh consecutive session with total liquidity of Tk11 crore. It was followed by Agni System, Saif Power Tec, Muzaffar Hussain Spinning Mills, IDLC and Alltex.
