DSE witnesses low turnover as major sectors falter

Dhaka,  Thu,  21 September 2017
Published : 21 Apr 2017, 00:24:14

DSE witnesses low turnover as major sectors falter

FE Report

The Dhaka bourse closed the week's last session Thursday, amid poor turnover along with a moderate fall in key index as major sectors, other than financial institutions, failed to show market supportive performance.

The turnover declined 23 per cent or Tk 1.66 billion from the value observed Sunday as investors' participation gradually declined in the last four sessions.

The market on Thursday started the session positively and witnessed see-saw movement for around two hours.

Later, the broad index of Dhaka Stock Exchange (DSE) gradually declined till the closure without any recovery stance.

At the end of the session, the DSE broad index DSEX witnessed a moderate loss of 0.60 per cent or 33.43 points to close at 5521.66 points.

According to EBL Securities, the premier bourse continued its correction mood and edged significantly lower Thursday.

"The market started with optimistic tune as opportunistic investors spurred their buying spree on sector-specific stocks, especially from financial institution sector," it said.

It said the optimism that was observed early of the session did not sustain later as the risk averse investors opted to book quick gain on sector specific large cap stocks especially from bank and fuel & power sectors.

In the five sessions of this week, the DSEX lost 124 points as compared to the closing mark of the previous week.

The shariah based index DSES Thursday lost 0.58 per cent or 7.47 points to close at 1272.24 points, whereas the blue chip index DS30 went down by 0.23 per cent or 4.73 points to close at 2050.43 points.

Of total issues traded Thursday, 83 advanced, 196 declined and 45 were unchanged on the premier bourse.

The turnover stood at above Tk 5.57 billion which is 18.46 per cent less than that of the previous session.

Among the sectors those witness fall, bank lost 0.7 per cent, engineering 0.7 per cent, fuel & power 0.7 per cent, telecommunication 0.3 per cent and textile 1.1 per cent.

Investors' activities were concentrated mostly on financial institutions, which contributed 16.20 per cent to the turnover, followed by textile 15.70 per cent, bank 13.50 per cent and fuel & power 11.80 per cent.

Shahjibazar Power Company topped the turnover chart with a value of Tk 247 million, followed by Regent Textile Tk 213 million, LankaBangla Finance Tk 202 million, Islamic Finance & Investment Tk 193 million and SAIF Powertec Tk 159 million.

Investment Corporation of Bangladesh (ICB) witnessed the highest price hike of 7.52 per cent and the shares closed at Tk 195.70 each.

First Security Islami Bank topped the losers' chart after declining 9.92 per cent to close at Tk 12.70 each.

Editor : A.H.M Moazzem Hossain
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