A representative image of the stock exchange.
Shares in Dhaka fell on Sunday after gaining in the previous two sessions as investors resumed selling shares amid concerns over macro issues.
The DSEX, the key index of the Dhaka Stock Exchange, fell 0.29%, or 19.26 points, to close at 6,406.46 points on Sunday after gaining 64.34 points in the previous two trading sessions. .
The market went through a volatile session on Sunday, the first trading day of the week, as investors moved to sell stocks amid growing concerns over the country’s macroeconomic issues, market operators said.
Investors were weighing the possible impacts of rising inflation, currency market volatility, record trade deficit and foreign debt on the economy, they said.
Finance Minister AHM Mustafa Kamal tabled the draft national budget for the financial year 2022-23 in parliament on June 9, but the budget failed to meet the expectations of stock market investors as they found almost nothing in market budget, the market operators said.
EBL Securities, in its daily market commentary, said Dhaka shares ended lower as the negative economic impact of floods in Bangladesh’s northeast region worsened overall market sentiment.
“In addition, the unfavorable economic situation caused by imported inflation and increasing pressure in the foreign exchange market added to investors’ concerns,” he said.
Meghna Insurance Company Limited, which debuted on June 8, climbed from the high limit on the day to close at Tk 21.2 per share.
Among the large capitalized companies, the share prices of BEXIMCO, Beximco Pharmaceuticals, Square Pharmaceuticals and LankaBangla Finance rose the most on Sunday.
Average stock prices in the general insurance, non-banking financial institutions, banking and engineering sectors fell 1.7%, 0.9%, 0.7% and 0.5% respectively .
Of the 382 issues traded on Sunday, 62 advanced, 282 declined and 38 remained unchanged on the DSE.
The turnover on the DSE fell to Tk 895.78 crore on Sunday from that of Tk 1,046.63 crore in the previous session.
The DSE Shariah index lost 0.43 points to close at 1,397.11 points, but the DS30 index added 2 points to end at 2,329.95 points.
BEXIMCO topped the turnover chart with its shares worth Tk 112.76 crore changing hands.
Bangladesh Shipping Corporation, Shinepukur Ceramics, RAK Ceramics, SAIF Powertec, JMI Hospital Requisite Manufacturing, Anwar Galvanising, IPDC Finance, Fu-Wang Food and Orion Pharma were other revenue leaders.
Meghna Insurance Company Limited was the day’s best performer, posting a gain of 9.84%, while CAPM IBBL Islamic Mutual Fund was the worst loser, losing 2%.