Turnover dips 20.40pc on prime bourse

Dhaka,  Thu,  21 September 2017
Published : 08 Aug 2017, 22:04:58

Turnover dips 20.40pc on prime bourse

FE Report

Dhaka bourse Tuesday closed marginally lower as bank issues witnessed price correction.

According to market insiders, selling pressure was observed in stocks of banking sector and subsequently most of the banks went red.

Riding on mixed performance showed by other major sectors such as engineering, fuel & power and financial institutions, the Dhaka Stock Exchange (DSE) was able to close with marginal loss avoiding large fall.

Due to investors' less participation, the turnover also marginally declined compared to previous session.

After starting of the session, the DSE broad index DSEX witnessed a fall that continued for twenty minutes.

Later, a recovery stance was observed the DSEX minimised loss. Then the market went through choppy trading and the broad index closed with a marginal loss.

At the end of the session, the DSE broad index DSEX closed at 5897.67 points with a loss of 0.29 per cent or 15.92 points.

The shariah based index DSES gained 0.01 per cent to close at 1309.35 points, while the blue chip index declined 0.25 per cent to close at 2119.65 points.

Of 330 issues traded, 121 advanced, 164 declined and 45 were unchanged on the premier bourse DSE.

The turnover stood at above Tk 9.44 billion which was 20.40 per cent less than the turnover of previous session.

Of total turnover, Tk 360 million came from transactions executed in block board.

According to EBL Securities, the premier bourse swayed on the red zone as positive movement of banks put a halt following investors' profit booking stance.

"Investors exerted selling pressure on stocks from bank, mutual fund and travel & leisure, while stocks from fuel & power and textile sectors attracted investors," said the EBL Securities.

Among the major sectors based on market capitalisation, bank, general insurance and travel & leisure declined by 0.90 per cent, 0.1 per cent and 0.8 per cent respectively.

Among the gaining sectors, financial institutions advanced 0.1 per cent, fuel & power 0.3 per cent, tannery 0.2 per cent and textile 0.8 per cent.

Investors' participation was concentrated mostly on bank which grabbed 32 per cent of the market turnover followed by textile 14.70 per cent and engineering 12.60 per cent.

C & A Textile topped the turnover chart with a value of Tk 435 million followed by BBS Cables Tk 372 million, City Bank Tk 285 million, IFIC Bank Tk 279 million and IFAD Autos Tk 250 million.

Bangladesh Lamps was the number one gainer with a rise of 11.64 per cent to close at Tk 204.20, while Dulamia Cotton was the worst loser after declining 4.72 per cent to close at Tk 12.10.

On Chittagong Stock Exchange (CSE), indices and turnover declined following volatility observed throughout the whole session.

At the end of the session, benchmark index CASPI closed at 18302 points with a loss of 45 points.

Of 261 issues traded, 102 advanced, 129 declined and 30 were unchanged and the turnover stood at above Tk 552.41 million on the port city bourse CSE.

Editor : A.H.M Moazzem Hossain
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