Inclement weather dampens investors' interest

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FE Report
Dhaka stocks fell sharply Sunday amid thin turnout of investors due to inclement weather now sweeping across the country.
The decline was led by banks, leasing, pharmaceuticals, insurance and IT issues.
The Dhaka Stock Exchange (DSE) opened with a downbeat mood from the very outset of the trade, pushing the main index down by 70 points within one hour from the close of the trade.
Later, it recovered a few points but, finally, landed in the negative territory.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 comprising blue chips - dipped 64.83 points, 53.79 points and 37.08 points to close at 2803.27, 2322.87 and 2378.83 respectively.
Partly profit taking after two-day rally and a bit of mental stress about possible impact of global financial turmoil might have triggered the decline, according to market operators.
Economists, market experts and securities regulators had earlier rejected any impact on the country's stock market because of insignificant foreign portfolio investment of the country.
The decline of all the banking shares that account for more than 51 per cent of the total market capitalisation might have some effect on other issues" a stockbroker said.
The losers took the strong lead over the gainers on the day. Out of 234 issues traded, 182 declined, only 41 advanced and 11 remained unchanged.
The total turnover at the prime bourse declined to Tk 3.10 billion against Thursday's Tk 3.80 billion while the market capitalisation marginally came down to Tk 990.68 billion from Tk 1.00 trillion.
Beximco Pharma was the top turnover leader with shares worth Tk 260.34 million traded. Its share prices registered 1.87 per cent drop to close at Tk 162.10 a share.
Titas Gas, ACI Limited, Desco, Islami Bank, Lanka Bangla Finance Limited, Square Pharma, Summit Alliance Port Limited and Golden Son were the day's turnover leaders on the day.