Dhaka stocks fall as investors stare at city polls affairs

Dhaka stocks returned to the negative zone on Wednesday after a bull run in the previous trading session due to profit-taking share sell-offs in late trading amid an apprehension that the political situation might worsen again with the cancellation of mayoral candidature of two BNP-backed aspirants by the Election Commission.

The key index of Dhaka Stock Exchange, DSEX, fell by 0.38 per cent, or 17.37 points, to close at 4,513.10 points.

The turnover, a key indicator of the market, also declined to Tk 359.71 crore on the day compared with that of Tk 452.72 crore in the previous trading session. The turnover at the bourse had hit its four-month high on Tuesday following talks about formation of a forum to sort out the problems of the capital market-related entities.

Market operators said the market began the day on a positive note but failed to sustain the vibe amid profit-taking share sell-offs in late trading session.

Besides, investors were apprehending that the rejection of candidature of Abdul Awal Mintoo for the mayoral post of the Dhaka North City Corporation by the Elections Commission on Wednesday would be a factor in making the BNP’s final decision on its participation in the city corporation polls, they said.

Investors who were on the sidelines for the last couple of months have become active recently on the trading floor amid expectation that the political situation would ease with the BNP-backed candidates duly submitting nomination papers to the Election Commission, operators said.

The Shariah index of the bourse, DSES, fell marginally by 0.40 per cent, or 4.46 points, to close at 1,098.66 points on the day.

DS30, the blue-chip index of the DSE, declined to 1,719.88 points, shedding 0.49 per cent or 8.59 points.

‘The DSEX fell by 17 points today [Wednesday], reversing the day’s robust start,’ IDLC Investments said in its daily market commentary.

It said impatience and uncertainty on the part of the investors could be the main catalysts behind the current zigzag move in the index.

‘Investors maintained their interest on particular stocks and sectors as pharmaceuticals captured 19.2 per cent of the total turnover,’ said IDLC.

‘Today’s trading session started with a positive mood, but at the end of the day it ended up in the red territory as prices of most of the large cap stocks declined on the day,’ LankaBangla Securities said in its daily market analysis.

MJL Bangladesh led the turnover leaders on the day with its shares worth Tk 22.31 crore changing hands.

Square Pharmaceuticals, Grameenphone, ACI Limited, Shasha Denims, BEXIMCO, Lafarge Surma Cement, Saif Powertec, Khulna Power and IFAD Autos were among the other turnover leaders.

AB Bank 1^st Mutual Fund gained the most on the day with a 9.09-per cent increase in its share price, while Jute Spinners was the worst loser on the day, shedding 9.62 per cent. (Source: New Age, April 2, 2015)

Dhaka stocks slide on fresh political worries

Dhaka stocks went negative on Monday after investors’ heavy buying spree in last two trading sessions amid enforcement of 48-hour strike by the BNP-led allies that made investors skeptical about the party’s stance on city corporation elections.

The key index of Dhaka Stock Exchange, DSEX, fell by 1.07 per cent, or 48.79 points, to close at 4,509.28 points on the day.

Investors became skeptical about BNP’s stance on the city corporation elections as the party on Sunday evening called a 48-hour strike from Monday excluding Dhaka and Cittagong, market operators said.

Investors since the declaration of election schedule for three city corporations have been keeping close eye on BNP’s stand regarding elections, they said.

Operators said that investors were thinking that BNP’s participation might ease the political situation while their boycott of the election might result in extension of the political unrest.

Investors on Sunday went for heavy buying of shares as the main opposition did not declare any strike on Saturday breaking last three months’ trend of their movement.

The market was on the decline for last three months as the BNP-led alliance since January 5, the first anniversary of the one-sided elections, continued to enforce strikes except the weekly holidays supplementing countrywide nonstop blockade.

DS30, the blue-chip index of the bourse, declined at 1,717.48 points, adding 1.17 per cent or 20.39 points on Monday.

The Shariah index of DSE, DSES, closed at 1,096.69 points, slipping by 1.30 per cent or 14.54 points.

Turnover of DSE declined to Tk 314.93 crore on Monday compared with that of Tk 393 crore in the previous trading session.

Of the 306 shares and mutual funds traded on the day, 76 advanced, 198 declined and 32 remained unchanged.

Grameenphone led the turnover chart on the day as its shares worth Tk 28.54 crore changed hands.

ACI Limited, Shasha Denims, Lafarge Surma Cement, IFAD Autos, MJL Bangladesh, Pharma Aids, Western Marine Shipyard, Square Pharmaceuticals and ACI Formulations were among other turnover leaders.

Pharma Aids gained the most with a 7.46-per cent increase in its share prices, while One Bank was the worst loser, shedding 18.59 per cent. (Source: New Age, March 31, 2015)