Stocks finished flat for the second consecutive session amid bumpy trading yesterday, as investors continued to react negatively to the deepening political crisis.
The market moved between negative and positive throughout the session, as investors played both sides of fence.
The benchmark index DSEX ended at 4277 with a fall of 17 points or 0.4%. The DS30 Index comprising blue chips was slightly down 9 points or 0.7% to 1498.
The Chittagong Stock Exchange Selective Category Index, CSCX, fell 45 points to close at 8372.
Trading activities continued to decline as the total turnover at DSE stood at Tk4.4bn, which was 4.7% lower over the previous session. Out of 284 issues traded, 127 advanced, 32 lost and 32 remained unchanged.
IDLC Investments in its market analysis said the final session of the week closed flat amid declaration of another 72-hour blockade in the coming week.
It said as the developments were in line with opaque political outlook, investors did not call for any revision in current market valuation. However, confusion spurred volatility, it said.
All the major sectors but the pharmaceuticals counted losses. The pharmaceuticals rose by 0.08%.
The non-banking financial institutions and the power sector were the worst losers, falling 1.19% and 0.56% respectively.
Lanka Bangla Securities said market was in a very capricious mood. It was lacking any direction as political uncertainties are still not taking any shape, it said.
“Continuous political uncertainties are hampering corporate earnings. The export activities are being hampered severely,” it said.
On the other hand, domestic market has swelled with idle liquidity. The call money rate has come down to around 6%.
So market participants are in a continuous fix whether to take position or stay in a side line to observe where political situation of Bangladesh goes, stated Lanka Bangla.
Delta Life Insurance maintained its top position in the turnover’s chart for the seventh consecutive session with shares worth Tk334m changing hands.
Other turnover leaders were Paramount Textile, Generation Next Fashion, Argon Denim, Jamuna Oil, RN Spinning, Tallu Spinning and BD Building.
