Stocks edged lower for the second sessions in a row Tuesday with key index of the prime bourse dipping below 4,500-mark as ongoing political instability is taking its toll on the capital market.
The market opened with a positive note like previous session, but could not sustain as the session progressed. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 13.15 points or 0.29 per cent to close at 4,493.40 points.
The two other indices also closed in the red. The DS30 index, comprising blue chips lost 4.34 points or 0.25 per cent to close at 1,707.22 points. The DSE Shariah Index (DSES) shed 5.61 points or 0.51 per cent to close at 1,090.75 points.
The total turnover on the DSE came down below Tk 3.0 billion-mark again and amounted to Tk 2.55 billion, which was 18.78 per cent lower over the previous session's value of Tk 3.14 billion.
The investors' attention was mostly focused on pharma, power and banks - the sectors that accounted for 24.8 per cent, 13.4 per cent and 13.2 per cent of the day's total turnover respectively.
"Market went down slightly amid the lack of confidence and specific direction among investors," said LankaBangla Securities, in its daily market analysis.
"The ongoing political instability in the country is taking its toll on the capital market as investors are getting more and more concerned about investing in equity market," said the stock broker.
IDLC Investments said: "Demoralized investors cashed further out of the market from most of the stocks".
This session's dip turned down market once again below 4,500-mark 'psychological' threshold, spraying depression on investment sentiment, said the merchant bank.
In this hopeless scenario, most of the investment activities centered on a few stocks, as evidenced by the fact that the day's top ten most active stocks constituted 40 per cent of total turnover, it added.
International Leasing Securities said: "Stock ended lower note amidst shaky participation from the investors. A daylong battle between optimist and pessimist investors was observed but losers took a lead over the gainers at the end of the session".
Investors' attention was mostly grabbed by large-cap stocks. However, price correction in several issues from financial sectors, power and engineering sectors contributed in fall of indices, it said.
The large-cap sectors showed mixed performance. Pharmaceuticals advanced by 0.60 per cent. Telecommunication and cement appreciated by skimpy 0.29 per cent and 0.22 per cent respectively.
NBFIs went down by 1.41 per cent posting the highest loss of the session. Power retraced by 0.65 per cent. Food and allied and banks both closed flat in red with losing 0.07 per cent and 0.05 per cent respectively.
The port city bourse, Chittagong Stock Exchange (CSE) also closed in the red with its Selective Categories Index - CSCX - lost 33.66 points to close at 8,312.16 points.
Losers beat gainers 143 to 54, with 24 issues remaining unchanged at the port city bourse that traded 8.44 million shares and mutual fund units, turnover value of Tk 236.92 million.
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