12:00 AM, July 13, 2014 / LAST MODIFIED: 01:53 AM, March 08, 2015

Average stock turnover fell 40.32pc last week

Average stock turnover fell 40.32pc last week

Star Business Report

Daily average turnover on the Dhaka Stock Exchange declined 40.32 percent to Tk 192 crore last week as the investors preferred to observe the market cautiously.
DSEX, benchmark general index of the prime bourse, lost 73.12 points or 1.65 percent to close at 4,363.09.
"Turnover has also come down to a very minimal level. This low level of turnover is indicating a falling interest to sell stocks at this level of prices,” LankaBangla Securities said in its market analysis.
"Buyers are also staying on the sidelines. They are probably waiting for second quarter earnings to hit on the screen. From next week, second quarter earnings figures will start coming."
Losers took a strong lead over the gainers as 243 issues declined, 49 advanced and 13 remained unchanged on the DSE trading floor during the week.
All the major sectors ended in the red except telecoms and food and allied, which gained 0.68 percent and 0.33 percent respectively.
Power posted the highest loss with a 1.78 percent fall, followed by banks 1.71 percent, non-bank financial institutions 0.59 percent and pharma 0.91 percent.
Only one listed company—Stylecraft Ltd—made corporate declaration last week. The company declared 50 percent cash dividend for the year ended on December 31, 2013. In 2012, the company declared 45 percent cash dividends.
A new issue—FAR Chemicals—started trading on the DSE last week and gained 426 percent from its IPO price of Tk 10 on its debut.
Beximco dominated the week's top turnover chart for the second straight week with 1.94 crore shares worth Tk 63 crore changing hands, followed by Grameenphone, FAR Chemicals, Appollo Ispat and Lafarge Surma Cement.
Bangladesh Industrial Finance Corporation was the week's top gainer, posting a rise of 16.80 percent while National Life Insurance was the worst loser, slumping by 28.33 percent.


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