Dhaka stocks dipped for the fifth consecutive session on Monday with DSEX hitting a 19-month low as investors watched
out for possible impact of Bangladesh Bank’s new monetary policy on the market.
The central bank will annouce the monetary policy statement for the first half (July-December) of the current fiscal year (2018-19) today.
DSEX, the key index of Dhaka Stock Exchange, lost 0.32 per cent, or 17.15 points, to close at 5,262.91 points on Monday. The core index lost 86 points in last five trading sessions. The DSEX hit its lowest since January 9, 2017 when the index was at 5,214.60 points.
The market opened with upbeat trend, gaining 30 points within an hour of the session, but dipped sharply after the initial gains as investors continued selling shares to safeguard their investments the day before the MPS declaration.
The average share prices of cement, miscellaneous, pharmaceuticals and telecommunication sectors dropped by 1.43 per cent, 1.14 per cent, 0.93 per cent and 0.37 per cent respectively.
Among the prominent scrips, a plunge in the share prices of Olympic Industries, Square Pharmaceuticals, LafargeHolcim Bangladesh and Grameenphone weighed on the index most.
The average share prices of bank and non-bank financial institution sectors gained on Monday on bargain hunting after their recent fall as most the companies under the sectors disclosed poor financial results.
IDLC Finance, LankaBangla Finance, Al-Arafah Islami Bank, Exim Bank and AB Bank declared profit fall for the April-June period while NCC Bank and Southeast Bank declared profit growth for the period.
‘Though the market opened in positive tune, the early momentum reversed soon as market participants decided to book some profits being indecisive about the impact of upcoming monetary policy declaration on the capital market,’ said EBL Securities in its daily market commentary.
Turnover on the DSE, however, increased to Tk 614.56 crore on Monday compared with that of Tk 577.34 crore in the previous trading session.
Of the 337 companies and mutual funds traded, 200 declined, 92 advanced and 43 remained unchanged.
DS30, the blue-chip index of the DSE, also lost 0.37 per cent, or 7.02 points, to close at 1,871.73 points.
Shariah index DSES dipped 0.62 per cent, or 7.02 points, to finish at 1,240.91 points.
Saiham Textile Mills led the turnover chart with its shares worth Tk 21.46 crore changing hands.
United Power Generation Company, The Peninsula Chittagong, KDS Accessories, BBS Cables, Monno Ceramics, Simtex Industries, Legacy Footwear, Pacific Denims and Bashundhara Paper Mills were the other turnover leaders.
Legacy Footwear gained the most on the day with a 9.96-per cent increase in its share prices, while Meghna Pet Industries was the worst loser, shedding 10 per cent.
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