Dhaka stocks returned to negative territory again Sunday, a day after moderate gain, as majority of the investors were watching the market movement.
Key index of the DSE plummeted 40.56 points with turnover, in value term, declined to nearly two-month low.
Total turnover value stood at Tk 4.39 billion which was 17.9 per cent lower than last session's value of Tk 5.36 billion.
Sunday's turnover value was nearly two-month low since June 20. On June 20, the turnover was Tk 3.41 billion.
However, the market started with a flying note and gained almost 50 points during the first 30 minutes and started to fall and finally ended the day 40.56 points lower.
The benchmark General Index of the DSE, the main index of the DSE, shed 40.56 points or 0.65 per cent to close at 6,172.29.
The broader All Shares Price Index (DSI) went down by 30.87 points or 0.59 per cent to close at 5,161.24. The DSE-20 Index comprising blue-chip shares also lost 10.62 points or 0.25 per cent to close at 4,150.56.
Professor Mahmood Osman Imam, a finance teacher at the Dhaka University and capital market expert said, "The market situation is still unusual as turnover is very low amid thin participation of investors."
"The majority of investors are watching the movement of the market while big and institutional investors remain inactive, which contributed to the lower turnover," commented Mr Imam.
"Generally, the market remains slow during holy month of Ramadan as consumption rate increases and institutions are also more focused on managing their liquidity due to pressure of client's money withdrawal tendency before Eid," said a stock broker.
"That could possibly explain the observed lack of buying pressure for the day," he said.
LankaBangla Securities, in its daily market commentary mentioned that buy side participants were largely inactive in the market while profit booking by some investors ahead of festivity encouraged the bottom hunting.
Short trading session for holy month of Ramadan also contributed to the decreasing activities, it added.
Share prices of most of the issues traded on the day declined. Out of 251 issues traded, only 60 advanced, 184 declined and seven remained unchanged.
A total of 60.83 million shares changed hands on the day against 75.40 million in the previous session. The trade deals also declined to 101,748 against Thursday's 119,889.
Total market capitalisation of the DSE, decreased slightly to Tk 2,929.23 billion against Tk 2,944.43 billion in the previous session.
Most of the sectors ended in the red zone as market witnessed selling pressure in majority of the sectors.
Banking sector was down by 0.60 per cent, whereas NBFIs, telecommunications and fuel and power declined 0.92 per cent, 1.18 per cent and 0.90 per cent respectively.
Other prominent sectors like pharmaceuticals and cement gained 0.40 per cent and 1.20 per cent respectively.
Beximco Limited topped the turnover list with share worth Tk 166.41 million changed hands.
The other turnover leaders were GP, AIMS First Mutual Fund, City Bank, Fu-Wang Food, Grameen One Mutual Fund, Golden Son, Aftab Automobiles, Jamuna Oil and Jamuna Bank.
ICB AMCL Islamic Mutual Fund was the day's top gainer posting a rise of 5.01 per cent.
It was followed by Mithun Knitting, Reckitt Benckiser (Bd.) Ltd, the first scheme of Reliance Insurance Mutual Fund, Monno Jutex, Samorita Hospital, Apex Spinning, Pioneer Insurance, MI Cement and Monno Ceramics.
Key index of the DSE plummeted 40.56 points with turnover, in value term, declined to nearly two-month low.
Total turnover value stood at Tk 4.39 billion which was 17.9 per cent lower than last session's value of Tk 5.36 billion.
Sunday's turnover value was nearly two-month low since June 20. On June 20, the turnover was Tk 3.41 billion.
However, the market started with a flying note and gained almost 50 points during the first 30 minutes and started to fall and finally ended the day 40.56 points lower.
The benchmark General Index of the DSE, the main index of the DSE, shed 40.56 points or 0.65 per cent to close at 6,172.29.
The broader All Shares Price Index (DSI) went down by 30.87 points or 0.59 per cent to close at 5,161.24. The DSE-20 Index comprising blue-chip shares also lost 10.62 points or 0.25 per cent to close at 4,150.56.
Professor Mahmood Osman Imam, a finance teacher at the Dhaka University and capital market expert said, "The market situation is still unusual as turnover is very low amid thin participation of investors."
"The majority of investors are watching the movement of the market while big and institutional investors remain inactive, which contributed to the lower turnover," commented Mr Imam.
"Generally, the market remains slow during holy month of Ramadan as consumption rate increases and institutions are also more focused on managing their liquidity due to pressure of client's money withdrawal tendency before Eid," said a stock broker.
"That could possibly explain the observed lack of buying pressure for the day," he said.
LankaBangla Securities, in its daily market commentary mentioned that buy side participants were largely inactive in the market while profit booking by some investors ahead of festivity encouraged the bottom hunting.
Short trading session for holy month of Ramadan also contributed to the decreasing activities, it added.
Share prices of most of the issues traded on the day declined. Out of 251 issues traded, only 60 advanced, 184 declined and seven remained unchanged.
A total of 60.83 million shares changed hands on the day against 75.40 million in the previous session. The trade deals also declined to 101,748 against Thursday's 119,889.
Total market capitalisation of the DSE, decreased slightly to Tk 2,929.23 billion against Tk 2,944.43 billion in the previous session.
Most of the sectors ended in the red zone as market witnessed selling pressure in majority of the sectors.
Banking sector was down by 0.60 per cent, whereas NBFIs, telecommunications and fuel and power declined 0.92 per cent, 1.18 per cent and 0.90 per cent respectively.
Other prominent sectors like pharmaceuticals and cement gained 0.40 per cent and 1.20 per cent respectively.
Beximco Limited topped the turnover list with share worth Tk 166.41 million changed hands.
The other turnover leaders were GP, AIMS First Mutual Fund, City Bank, Fu-Wang Food, Grameen One Mutual Fund, Golden Son, Aftab Automobiles, Jamuna Oil and Jamuna Bank.
ICB AMCL Islamic Mutual Fund was the day's top gainer posting a rise of 5.01 per cent.
It was followed by Mithun Knitting, Reckitt Benckiser (Bd.) Ltd, the first scheme of Reliance Insurance Mutual Fund, Monno Jutex, Samorita Hospital, Apex Spinning, Pioneer Insurance, MI Cement and Monno Ceramics.
Source: FE
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