Dhaka stocks inch down after 4-day rise
Dhaka stocks inched down on Monday after a four-day gain as a section of investors continued buying shares while many investors remained cautious amid lingering Russia-Ukraine conflict.
DSEX, the key index of the Dhaka Stock Exchange, lost 0.02 per cent, or 1.79 points, to close at 6,763.93 points on Monday after gaining 308.96 points in the previous four sessions.
The market went through a choppy session with a few ups and downs and it ultimately finished flat as investors were active on both sides of the trading fence, market operators said.
They said that some investors continued buying shares amid the Bangladesh Securities and Exchange Commission’s moves to restrict price fall.
The BSEC on March 8 restricted any company’s shares from falling beyond 2 per cent.
It also asked the Investment Corporation of Bangladesh to start investment from Tk 100 crore funds which were given from the capital market stabilisation fund.
However, many investors remained cautious as Russia escalated attacks in Ukraine that feared to hit the global economy hard, the market operators said. EBL Securities in its daily market commentary said, ‘Investors were engaged in profit booking taking advantage of the past two days’ rise. As a result, the selling pressure had led to equity indices falling slightly below the day’s opening price.’
Out of the 379 issues traded on Monday, 167 advanced, 178 declined and 33 remained unchanged on the DSE. Among the large capitalised companies, share prices of BEXIMCO, Beximco Pharmaceuticals, Fortune Shoes and Robi Axiata Limited declined on the day.
Average share prices of mutual fund, engineering, food and bank sectors advanced by 1.3 per cent, 1 per cent, 0.4 per cent and 0.2 per cent respectively.
The turnover on the DSE dipped to Tk 986.51 crore on Monday compared with that of Tk 998.73 crore in the previous session. DS30 index comprising of 30 large capitalised companies shed 2.7 points to finish at 2,460.7 points and the DSE Shariah index decreased by 0.47 points to close at 1,452.7 points.
BEXIMCO topped the turnover chart with its shares worth Tk 53.68 crore changing hands. VFS Thread Dyeing, BDCOM Online, Agni Systems, Orion Pharma, Bangladesh Shipping Corporation, Keya Cosmetics, Queen South Textiles, GSP Finance and Dragon Sweater were the other turnover leaders.
BDCOM Online Limited was the day’s best performer, posting a gain of 9.8 per cent, while Alif Manufacturing Company Limited was the worst loser, shedding 2 per cent.
News Courtesy:
https://www.newagebd.net/article/165387/dhaka-stocks-inch-down-after-4-day-rise
