DSE turnover dips below Tk 5.0 billion-mark again

Dhaka,  Sat,  19 August 2017
Published : 18 Jun 2017, 21:33:49
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DSE turnover dips below Tk 5.0 billion-mark again

Stocks break three-day gaining streak
DSE turnover dips below Tk 5.0 billion-mark again
FE Report


Stocks slipped into the red Sunday with turnover dipping below Tk 5.0 billion mark on the prime bourse again as most of the investors were reluctant to take fresh exposure ahead of Eid festival.

Analysts said the market faced mild correction as investors preferred to book quick-gain on their investment while some were observing the market movement ahead of the largest  festival.

"As only four trading sessions are left before Eid vacation, many retail investors refrained from making fresh investment, taking the market turnover below Tk 5.0 billion-mark again," said an analyst at a leading brokerage firm.

The market started with a negative trend and the downturn sustain till end of the session with modest volatility, finally ended nearly 7.0 points lower.

DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,462, losing 6.69 points or 0.12 per cent over the previous day.

International Leasing Securities, a stockbroker, said, "The market participants preferred short-term trading that created sell pressure from the beginning of the session and continued till the closure which leads the burse to close in red".

The stockbroker noted that buyers' attention was mostly attracted from the issues of bank and pharma sectors while the aggressive selling in financial institution, fuel & power and cement sectors contributed the plunge in indices.

The two other indices also finished marginally lower. The DS30 index, comprising blue chips fell 0.27 points or 0.01 per cent to finish at 2031. The DSE Shariah Index (DSES) lost 1.34 points or 0.10 per cent to close at 1,261.

Turnover, another important indicator of the market, came down to Tk 4.73 billion, which was 11 per cent lower over the previous day's Tk 5.30 billion.

Textile sector emerged as turnover leader, contributing more than 24 per cent of the day's total turnover value, followed by pharmaceuticals 14 per cent and bank 13 per cent.

IDLC Investment, a merchant bank, said, "The market went into negative territory with broad index DSEX lost 6.7 points and closed the session at 5,461.6 points".

The merchant bank noted that textile sector performed well as the sector contributed 24.4 per cent of the day's total turnover value, also the highest gaining sector with 0.50 per cent gain.

The large-cap sectors showed negative performances except banks and pharmaceuticals which advanced 0.20 per cent and 0.08 per cent respectively.

The non-bank financial institutions posted the highest correction of 0.95 per cent, followed by fuel & power 0.67 per cent, food & allied 0.27 per cent, engineering 0.05 per cent and telecommunication 0.03 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed marginally lower with its Selective Categories Index - CSCX - losing 12 points to settle at 10,238.

Losers beat gainers as 120 issues closed lower, 74 closed higher and 36 remained unchanged on the CSE.

The port city bourse traded 8.83 million shares and mutual fund units' worth Tk 258 million in turnover.

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