Stocks edged marginally higher Sunday after three sessions losing streak with turnover hitting two-month low as investors followed 'wait-and-see' approach due to political tension.
However, the presence of the investors was thin on the trading floor amid mounting political tension, centering BNP-led opposition party's 'March for Democracy' programme. Many investors executed trade over phone as they did not come to the trading floor.
Market started in a negative tone in the morning and went down to negative 17 points. Then market recovered toward the end of the day and ended in positive territory.
At the end of the session, the prime index of the Dhaka Stock Exchange - DSEX ended at 4,209.69 points, gaining 8.73 points or 0.20 per cent from previous session.
The DS30 index, including blue chips also gained 2.33 points or 0.16 per cent to close the session at 1,450.28 points.
Turnover value came down to Tk 2.64 billion, registering 28 per cent decline over the previous session's value. It was also two-month lowest turnover since Tk 2.49 billion on October 27 last.
"The market lacked interest of investors," said LankaBangla Securities, a leading stock broker.
Turnover was 28 per cent lower compared to previous session.
"Due to political tension regarding opposition party called 'March for Democracy', investors could not freely go to brokerage houses for trading. That was apparent in the day's low turnover," said the stock broker.
"While the nation gave in to deep fear of chaos, market responded with a puzzling session," said IDLC Investments, a leading merchant bank, in its daily market analysis.
The indices ended flat in positive, while turnover plunged 28 per cent as most of the investors adopted 'wait-and-see' approach, said the merchant bank.
Despite severe political crisis and miserable economic scenario, Cement gained 1.88 per cent and industries from financial sector performed positively. On the other hand, combined effect of natural correction textile lost 1.14 per cent, it added.
Gainers beat losers 127 to 124, with 29 issues closed unchanged on the DSE floor.
Among the major sectors, Banks and NBFIs gained 0.28 per cent and 1.94 per cent respectively. The other large cap sectors - telecommunications, pharmaceutical and fuel & power lost 0.68 per cent, 0.16 per cent and 0.27 per cent respectively.
Activities also decreased in the prime bourse. A total of 0.073 million trades were executed with 66.35 million shares and mutual fund units were trading volume.
The market capitalization of the DSE stood at Tk 2,620.02 billion against Tk 2,619.23 billion against Tk 2,632.64 billion in the previous session.
Golden Son dominated the top turnover chart with shares worth Tk 159.85 million changing hands followed by Argon Denim, Appollo Ispat, RN Spinning and Bay Leasing.
Union Capital dominated the top gainer chart, posting a rise of 8.95 per cent while Kay & Que was the day's worst losers, slumping by 8.69 per cent.
The Chittagong Stock Exchange (CSE) also ended marginally higher, with its Selective Categories Index - CSCX gained 15.71 points to close at 8,269.71 points.
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