BSS, Dhaka :
Despite some lucrative fiscal supports offered to the share investors, Dhaka Stock Exchange (DSE) began trading of the first day of the new 2014-15 financial year (FY15) downbeat.
All the indices of the prime bourse ended in red at close on Wednesday though the falls in the broad-based DSEX and selective DS30 indices were marginal. The indices closed at 4466.61 and 1637.31 respectively with less than half percent loss.
The Shariah DSES index, however, suffered over 1.0 percent loss to close at 1009.07 as its representing scrips faced major price corrections.
The market finished the trading of the immediate past 2013-14 financial year on Monday with 9.16 percent year-on-year gain, effectively beating various speculation and skepticism about the stability of the country’s stock market.
The benchmark index, however, finished the outgoing fiscal year in red due to price corrections in most of the issues traded. The downbeat continued on Wednesday, taking the market activities as well price indices further down.
Investors’ remained cautious on the day that limited their participation and resulted in fall in daily trade volume and value. The volume on the day came down to 7.04 crore shares and the value to Taka 247.85 crore from Monday’s 7.06 crore shares worth Taka 387.21 crore. Stock market remained closed on Tuesday on bank holiday.
Market continued to experience wide range price corrections on Wednesday when 168 issues incurred loss with 91 advancing and 30 static out of 290 issues traded. Market analysts attributed the fall to the profit booking by some investors who sold their shares after getting good margin. Fund flow to the market also declined on the first day of the FY15 as investors closed their window for tax rebate in the last session.
On the other hand, some investors took position in banking sector on positive news about banks’ operative earning in the first half of 2014.
Some issues for aviation, banking, textile and miscellaneous consolidated their position in the list of the top turnover as well as top gaining lists. Some other major gainers were from power and food sectors.
Shares of life insurance, mutual funds and pharmaceuticals disappointed most when they became the day’s top lagging issues.
