Turnover on the Dhaka Stock Exchange slipped to a two-week low of Tk 355 crore yesterday as investors were reluctant to make fresh investments in the market.
Said to be the most important indicator of the market, turnover fell 23 percent from the previous day.
DSEX, the benchmark general index of the Dhaka Stock Ex-change, closed the day at 4,697.54 points, after falling 6.34 points or 0.13 percent.
DSES, the shariah index of the Dhaka bourse, closed the day at 1,007.45 points, after gaining 1.43 points or 0.14 percent.
“The market inched lower yesterday over selling pressures on large and mid-cap stocks, which might have come from institutional holdings, as Bangladesh Bank asked banks to limit their capital market exposure,” LankaBangla Securities said in its regular market analysis.
The market value of a banking company's investment in stocks must not exceed 50 percent of its total capital, according to a BB notice issued on February 25.
“Stocks of mostly pharma, non-bank financial institutions and insurance sectors saw a selling force, while a buying force was seen in banks, textiles and power stocks.”
It is now time to watch how investors react to the annual corporate declaration of stocks along with high liquidity in the money market and a low interest rate environment, the stockbroker said.
After taking a break, the market backtracked once again amid waning participation, IDLC Invest-ments said.
“With a number of companies awaiting earning declarations, stock specific vibration continued in the market.”
Consequently, volatility continued to echo throughout the market, particularly in mini cap stocks, the investment banker said.
Of the 290 issues that traded on the DSE floor, 144 declined, 106 advanced and 40 remained unchanged.
A total of 0.79 lakh trades were executed with 6.5 crore shares and mutual fund units changing hands on the DSE.
Among the major sectors, cement gained 1.62 percent and pharma 0.8 percent, while non-bank financial institutions fell 1.39 percent and non Life insurance 1.25 percent.
Lafarge Surma Cement was among the most traded stocks chart with 52.4 lakh shares worth Tk 22 crore changing hands.
Desh Garments was the biggest gainer of the day, posting a 9.92 percent gain, while Prime Bank was the biggest loser, plunging 4.41 percent.