Dhaka stock market came back to its falling streak Thursday after a sudden turnaround in the previous session as investors offloaded their shares in a sluggish trade, brokers said.
Dhaka Stock Exchange (DSE) all shares price index (DSI) shed 13.03 points or 1.23 per cent to close at 1047.90 while DSE general index (DGEN) fell 16.30 points or 1.18 per cent to close at 1359.09 at the end of the day.
DSI and DGEN were closed to 1060.94 and 1375.39 at its previous day trading (Wednesday ) respectively.
DSE-20 blue chip index (DS20) shed 10.40 points or 0.769 per cent to close at 1340.43.
A total of 170 issues were traded on the day, of which 30 gained, 118 declined and 22 remained unchanged.
Total turnover of the market fell significantly to Tk 97.48 million, which is less than half of previous day's volume worth Tk 194.15 million.
The share prices did gain slightly Wednesday after a long spell of bear-run. The investors returned on the day to make commitments over relaxation of margin rules by the Securities and Exchange Commission (SEC).
Brokers said the SEC move is not enough to hold the positive sentiment of the investors for long in a market hit by fund crisis. The investors do not have sufficient fund for investment in the secondary market as many of issues are not capable to pay attractive returns.
Talking to the FE Babar Siddiqui, an investor, said: "I am frustrated seeing share prices falling every session,"
Babar said though some companies are declaring good dividend, others are not.
Brokers said there was huge selling pressure in the market, which might lead to price fall of maximum shares.
Maximum shares that gained yesterday (Wednesday) fell in Thursday trading session in a bearish market, brokers added.
Brokers said though Islami Bank Bangladesh recommended 25 per cent stock dividend for calendar 2005, its share price fell 0.60 per cent to close at Tk 4184.75. The investors expected cash dividend this year, they said.
However, Islami Bank became the turnover leader on the day with a volume of 1693 shares worth Tk 7.09 million.
Exim Bank, Southeast bank, Mercantile Bank, Square Pharma, Beximco Pharma, Square Textile, Summit Power shares that gained Wednesday lost in Thursday's trading .
Summit Power, which was turnover leader Wednesday, lost 2.33 per cent to close at Tk 324 at the end of the day.
Square Pharma and Southeast Bank lost 1.69 per cent and 0.87 per cent to close at Tk 2090.25 and 481.25 respectively at the end of last trading session of the week.
However, Al-Arafah Islami bank rose by 1.49 per cent at the spot market to close at Tk 2990.75 on the day as the bank declared 26 per cent stock dividend for calendar 2005, brokers said.
Brokers said Uttara Bank share lost 1.67 per cent to close at Tk 2448.0 despite declaration of 20 per cent cash dividend and 1: 1 bonus share for calendar 2005. The bank share might have fallen due to profit-taking by the investors, who also seemed unhappy over the offers.
Broker said investors do not prefer bonus share any more as they find prices of the shares go down soon after releasing bonus shares.
Exim Bank, Mercantile Bank, Beximco Pharma lost 1.97 per cent, 1.34 per cent and 1.65 to close at Tk 434.75, Tk 329.75 and Tk 53.50 respectively at the end of day in a bearish market.
Standard Bank share lost 1.35 per cent to close at Tk 274.0 in the spot market as brokers said 20 per cent stock dividend declaration for calendar 2005 by the company is not up to the expectation of the investors.