Dhaka stocks dropped on Sunday after advancing for three consecutive sessions, as subdued sentiment across the trading board was observed amid the imposition of capital gain tax on secondary market investments, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, decreased by 27.00 points, or 0.50 per cent, to close at 5,328.40 points on the day, after gaining 52.68 points in the previous session.
The DSE added a total of 135.23 points in the previous three sessions.
The market remained volatile in Sunday鈥檚 session and ended in the negative trajectory, market operators said.
Despite a fall in the indices, the total turnover of the Dhaka bourse rose to Tk聽712.68 crore on the day, as both sellers and buyers were active on the day, they said.
The turnover on the Dhaka bourse crossed the Tk聽700-crore mark after 45 days in the previous session.
The DSE in the previous session on Wednesday posted Tk聽705.83 as its turnover.
The government in the national budget for the 2024-25 financial year has imposed a 15-per cent tax on capital gains exceeding Tk聽50 lakh for beneficiaries in the share business.
Market operators said that the investors鈥� approach towards the market changed and they were more cautious after the government passed the Finance Bill 2024 with the tax measure on Saturday despite strong opposition by the businesses against the tax measure.
In the past 19 weeks, the DSE moved forward in only five weeks.
Of the 398 issues traded on Sunday, 92 advanced, 268 declined and 38 remained unchanged.
The DSE Shariah index decreased by 3.51 points, or 0.29 per cent, to close at 1,180.00 points on the day.
The DS30 index lost 12.92 points, or 0.67 per cent, to finish at 1,909.64 points.
On the sectoral front, fuel and power issues exerted the highest turnover, followed by the food and pharmaceutical shares.
EBL Securities in its daily commentary said, 鈥楥autious investors preferred to remain watchful and monitor the market momentum owing to prevailing uncertainties and opted to secure their recent gains from the market.鈥�
Linde Bangladesh topped the turnover chart on the day with its shares worth Tk聽15.78 crore changing hands.
SAIF Powertec, City General Insurance, Beach Hatchery, Alif Industries, Beximco Pharmaceuticals, British American Tobacco Bangladesh, Capitec Grameen Bank Growth Fund, Walton Hi-Tech Industries and Square Pharmaceuticals were the other turnover leaders.