Turnover on DSE drops to 2-month low
Turnover at the Dhaka Stock Exchange dropped to below Tk 600 crore yesterday, the lowest since February this year, amid a thin participation of investors.
Turnover, an important indicator of the market, fell 16.7 percent from the previous day to Tk 595.79 crore at the end of the day's trade. It was Tk 576.22 crore on February 6.
Many investors were inactive and remained on the sidelines to safeguard their position, a stockbroker said.
The market, however, remained flat with the DSEX, the benchmark index of the Dhaka Stock Exchange, declining only 0.51 points to finish the last day of the week at 5,645.86 points.
“The market underwent reshuffling by investors,” IDLC Investments, a merchant bank, said in its regular analysis.
Of the traded issues, 157 advanced, 121 declined and 46 securities closed unchanged on the premier bourse.
LankaBangla Finance dominated the turnover chart with 34.12 lakh shares worth Tk 21.4 crore changing hands, followed by Paramount Textile, Tung Hai Knitting and Dyeing, IDLC and Doreen Power Generations and Systems.
Among the major sectors, food and allied gained the highest of 0.89 percent in market capitalisation, followed by cement with 0.7 percent increase and engineering 0.2 percent.
Conversely, the telecom sector took the highest hit with a 1.1 percent fall in market capitalisation, followed by non-bank financial institutions 0.99 percent, general insurance 0.49 percent and pharmaceuticals 0.27 percent.
Regent Textile Mills was the day's best performer with 8.59 percent in gains, while Phoenix Insurance was the worst loser, shedding by 6.98 percent. Chittagong stocks also fell slightly yesterday with the bourse's benchmark index, CSCX, declining only 14.75 points or 0.13 percent to finish the day at 10,593.71 points.
Gainers, however, beat the losers as 106 advanced, 94 declined and 36 finished unchanged on the Chittagong Stock Exchange.
The port city bourse traded 1.95 crore shares and mutual fund units worth Tk 47.83 crore in turnover.