Stocks were back to negative zone yesterday, after one day rise, as investors continued to stay away from the market amid prolonged political unrest.
The market opened higher but failed to sustain as investors started booking short-term profits.
After rising more than 20 minutes in the morning, the benchmark DSEX lost 23 points or 0.5% to end at 4,739.
The Shariah index DSES inched 8 points or 0.8% down to 1,122. The blue chip comprising DS30 index was down 13 points or 0.8% to 1,758.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, closed at 8,850, shedding 4 points.
Political unrest continued to put damper on investors as this is the season of dividend declarations, which failed to ignite buying mood, dealers say.
“The market witnessed one-step forward and two-step backward over the last two months, making the investors nervous,” said an analyst.
Among the major sectors, cement registered the highest loss of almost 3%, followed by non-banking financial institutions 1.6%, pharmaceuticals 0.4%.
All the other major sectors witnessed marginal gain. Food & allied and power advanced by 0.2% each. Banks and telecommunication edged lower.
Trading at the Dhaka Stock Exchange remained relatively strong, however. Total turnover accumulated to Tk330 crore, which was 13.7% higher over previous session’s value.
IDLC Investments said market continued the downturn as long-term outlook became bleak for investors due to ongoing political unrest.
Losers outpaced losers as out of 309 issues traded, 83 advanced, 185 declined and 41 remained unchanged.
Following its corporate declaration Social Islami Bank (SIBL) posted the highest return of 12.8%. A number of banks declared their year-end earnings, consequently bank topped the sectoral turnover.
Heidelberg Cement declared 380% cash dividend for its shareholders for the last year, making it top turnover leader with shares worth nearly Tk22 crore changing hands.
