Turnover plunges to three-month low
Turnover on the Dhaka Stock Exchange yesterday dropped to more than a three-month low amid thin investor participation.
Turnover, an important indicator of the market, stood at Tk 336.8 crore after declining 20.6 percent at the end of yesterday. Turnover on the premier bourse was Tk 308.28 crore on June 21.
DSEX, the benchmark index of the Dhaka bourse, also dropped 42.35 points or 0.87 percent, finishing the first day of the week at 4,814.6 points.
Macro-economic data and growing political concerns might have wrecked investor sentiments, said LankaBangla Securities.
“Investors were mostly inactive and remained on the sidelines to safeguard their positions,” the stockbroker said.
IDLC Investments said investors' impatience reached a critical point and that initiated a sell-off throughout the session. “Confused investors withdrew themselves from share trade,” the merchant bank said.
Of the issues that traded on the premier bourse, 56 advanced and 239 declined, with 27 securities unchanged.
FAR Chemical Industries dominated the turnover chart with 34.49 lakh shares worth Tk 16 crore changing hands, followed by Saif Powertec, Lafarge Surma Cement, Summit Alliance Port and Square Pharma.
All the major sectors declined in market capitalisation: telecoms eroded 1.48 percent, fuel and power 1.21 percent, non-bank financial institutions 1.07 percent, mutual funds 0.56 percent, pharma 0.55 percent and banks 0.51 percent.
Rahim Textile was the day's best performer, advancing 5.88 percent, while EBL First Mutual Fund was the worst loser, slumping 6.38 percent.
Chittagong stocks slipped with the bourse's benchmark index, CSCX, declining 64.14 points or 0.7 percent to stand at 8,983.82.
Losers beat gainers as 165 retreated and 41 advanced, while 30 closed unchanged on the Chittagong Stock Exchange.
The port city bourse traded 67.56 lakh shares and mutual fund units, generating a turnover of Tk 22.48 crore.
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