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Dhaka stocks managed to close marginally lower amid extreme volatility on Wednesday, snapping a two-day rally.
The market swung between green and red throughout the entire session as investors searched in vain for a positive trigger to steer the bourse forward.
During the trade, uncertainty prevailed, erasing all the earlier gains, as investors offloaded their holdings, dragging the market close almost to the starting point.
The benchmark DSEX index fell 11 points or 0.17 per cent to settle at 6,731, after hitting a high of 6,777 and a low of 6,721.
The Shariah-based index DSES was down 4 points or 0.29 per cent at 1,427 while the blue-chip comprising the DS30 index dropped marginally 1 point or 0.05 per cent at 2,522.
Most sectors closed negative, driven by cement, NBFI, service and real estate, general insurance, IT, textile, food and allied, engineering, pharmaceuticals, telecommunications, and banks.
However, paper and printing, jute, life insurance, travel and leisure, tannery and mutual fund closed positive.
The turnover declined about 16 per cent to Tk 735 crore from the previous session’s Tk 8,72 crore. The trading was mostly concentrated on miscellaneous, insurance, pharmaceuticals, banks and textile. The five sectors together accounted for more than 45 per cent of the total turnover.
Shares of 377 companies were traded, of which 133 registered an increase, 196 recorded a fall, and 48 remained unchanged.
Stocks that contributed positively included Bangladesh Submarine Cable Company Limited (+3.89 points), Renata (+2.15 points), Power Grid (+2 points), Reckitt Benckiser (+1.29 per cent), Sonali Paper ( +1.16 per cent), Beximco Ltd ( + 1.11 per cent) and Titas Gas (+0.97 points).
Dacca Dyeing gained the highest of 9.4 per cent, followed by BSCCL, Atlas Bangladesh, Fine Foods, Alif Industries Limited, Bangladesh Building System Ltd, and Bangladesh Shipping Corporation.
Zeal Bangla was the worst loser shedding 5 per cent, followed by ICB Agrani One Mutual Fund, Imam Button, Monno Fabrics, Rahim Textile and One Bank.
Bangladesh Shipping Corporation was the most traded stock, followed by Beximco Ltd, BSCCL, Beacon Pharmaceuticals, One Bank and Sonali Paper.
