Stocks ended lower for the second running session Thursday amid sluggish trading activities as investors' confidence remained shaky following ongoing political deadlock.
The market opened with a negative note which continued till the market closure amid modest see-saw. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down 23.58 points or 0.49 per cent to close at 4,724.04 points.
The two other indices also closed in red. The DS30 index, comprising blue chips lost 9.05 points or 0.51 per cent to close at 1,747.75 points. The DSE Shariah Index (DSES) dropped 6.62 points or 0.59 per cent to close at 1,115.69 points.
Trading at DSE continued to remain sluggish amid political instability. The total turnover came down to Tk 2.06 billion, registering a decline of 12.34 per cent over the over the previous session's value of Tk 2.35 billion.
The investors' attention was mostly focused on textiles, power and engineering - the sectors that accounted for 15.3 per cent, 14.9 per cent and 11.4 per cent respectively of the day's total turnover value.
"The morning selling spree continued throughout the session as indecisiveness and watchful stance lingered amid ongoing sluggish economic activities and political deadlock," commented International Leasing Securities in an analysis.
"Investors stayed on the sideline to watch over the monetary policy statement to understand the central bank's response, which has been published after the end of the day's trading session," said the International Leasing Securities.
LankaBangla Securities said: "Market continued to extend losses, tracking cues from the on-going deadlock in economic activities amid strikes and blockade".
Investors are looking ahead to the monetary policy statement (MPS) decision for the second half of the FY2014-15, due later in the day, the stock broker said.
According to Bangladesh Bank officials this MPS will mainly focus on stimulating both local and foreign direct investment (FDI), it said.
The intraday trading was mostly bearish, though buyers came in last hour to reduced loss of early trading.
"Investors are looking forward to the indication that the policymakers would consider the shocks accruing to the economy as outcome of the ongoing political impasse in MPS," the stock broker added.
IDLC Investments: "The last session of the week extended the bearish sentiment that prevailed during the week".
Investors were reluctant from the start of the session. Alongside, they were eagerly waiting for H2 FY 2015 Monetary Policy Statement, said the merchant bank.
"Though numerous earnings disclosures appeared during the day, sentiment couldn't get uplifted," the merchant bank added.
Among the large-cap sectors food and allied was the only sector which ended in green with 2.89 per cent gain. The heavy weight constituent BATBC witnessed steep price appreciation of 4.02 per cent alone.
Fuel and power and NBFIs saw correction of 1.37 per cent and 1.34 per cent respectively. Telecommunication and pharmaceuticals also closed lower with losing 0.66 per cent and 0.40 per cent. Cement and banks also lost 0.31 per cent 0.27 per cent respectively.
The losers took a lead over the gainers out of 303 issues traded, 202 declined, 75 advanced and 26 remained unchanged on the DSE floor.
Activities decreased in the major bourse (DSE) where volume and trade were down by 2.85 per cent and 7.02 per cent respectively. A total number of 0.068 million trades were executed with trading volume of 58.04 million securities.
The market capitalisation on DSE stood at Tk 3,177.69 billion against Tk 3,190.59 billion in the previous session.
Newly listed C & A Textiles was the most traded stock with shares worth Tk 109.06 million changing hands followed by Lafarge Surma Cement, CVO Petrochemical, BSCCL and GP.
National Polymer was the day's top gainer, posting a rise of 7.94 per cent while Exim Bank First Mutual Fund was the day's worst loser, plunging 9.09 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended lower with its Selective Categories Index - CSCX - lost 64.94 points to close at 8,736.03 points.
Losers beat gainers 155 to 48, with 35 issues remaining unchanged at the port city bourse that traded 6.25 million shares and mutual fund units, turnover value of Tk 179.31 million.
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