Dhaka stocks slip for 2nd day as students’ protests continue

Staff Correspondent | Published: 22:25, Aug 06,2018 | Updated: 00:51, Aug 07,2018

 
 

Dhaka stocks slipped for the second day on Monday as investors were cautious on the trading floor as students’ protests for road safety that began on July 29 escalated in last couple of days amid attacks on the protesting students by ruling party activists.
On Monday the police and activists of the ruling party locked in clashes with students of some private universities including East West University and North South University.
DSEX, the key index of Dhaka Stock Exchange, shed 0.06 per cent, or 3.61 points, to close at 5,353 points on Monday after losing 42.76 points in the previous trading session.
In line with the previous session, the market began to fall from the very beginning of the day but gained slightly soon after as traffic movement situation in Dhaka improved slightly, market operators said.
But the gain was short-lived as investors went for panic selling after they received the news that the police and activists of the ruling party locked in clashes with students of some private universities including East West University and North South University, they said.
Besides, investors turned their focus to Aman Cotton Fibrous Limited that made its debut on the bourse on Monday. The share prices of the company soared by 89 per cent on the day and it topped the day’s turnover chart.
Aman Cotton began the day at Tk 60 and settled at Tk 74.3.
The average share prices of non-bank financial institutions, textile, cement and telecommunication dropped by 1.1 per cent, 0.6 per cent, 0.2 per cent and 0.1 per cent respectively. The share prices of textile companies dropped on the day as investors went on profit taking from the sector after their recent gains.
The bank sector gained 0.3 per cent despite fall in share prices of most of the bank scrips on Monday.
On the other hand, the share prices of energy, pharmaceuticals and food gained 1.0 per cent, 0.32 per cent and 0.3 per cent respectively as a section of investors went for bargain hunting.
Turnover on the DSE also dropped further to Tk 639.31 crore on Monday compared with that of Tk 659.22 crore in the previous trading session.
Of the 337 companies and mutual funds traded, 187 declined, 108 advanced and 40 remained unchanged.
DS30, the blue-chip index of the DSE, however, added 0.12 per cent, or 2.26 points, to close at 1,889.42 points.
Shariah index DSES shed 0.22 per cent, or 2.87 points, to finish at 1,249.35 points.
Aman Cotton Fibrous led the turnover chart with its shares worth Tk 51.76 crore changing hands.
United Power Generation Company, Dragon Sweater, Saiham Textile Mills, BRAC Bank, Nurani Dying, BBS Cables, Far Chemical Industries, Legacy Footwear and Alif Manufacturing Company were the other turnover leaders.
Regent Textile gained the most on the day with a 9.87-per cent increase in its share prices, while Padma Life Insurance was the worst loser, shedding 8.35 per cent. 

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