Turnover on DSE touches 6-month low
Stocks declined yesterday with the lowest turnover in the last six and a half months as investors were reluctant to make fresh investment in the market.
Turnover on the premier bourse lost 18.58 percent to Tk 124 crore, compared to the previous day. Turnover on Chittagong Stock Exchange stood at Tk 16.84 crore.
DGEN, the benchmark general index of Dhaka Stock Exchange, finished the day at 4,123 points, after dropping 9.98 points or 0.24 percent.
The situation is getting tougher gradually with the diminishing volume, an investment banker said.
Institutional investors should support the market with adequate liquidity to bring back normalcy soon, according to the banker.
â€œThe consecutive fourth session was recorded as a flat movement. Turnover seemed to be a permanent decline in short term,â€ IDLC Investments said.
Among the major sectors, banks lost 0.48 percent, followed by telecom 0.38 percent, power 0.37 percent and pharma 0.15 percent. Non-bank financial institutions gained 0.54 percent. A total of 0.42 lakh trades were executed with 4.15 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the 263 issues that traded on the DSE floor, 80 advanced, 142 declined and 41 remained unchanged.
United Airways featured in the most traded stock chart with 53.23 lakh shares worth Tk 11.35 crore changing hands. Generation Next Fashions and Beximco were the next popular stocks of the day.
Linde Bangladesh was the highest gainer of the day, as it accelerated a gain of 6.30 percent, while AB Bank First Mutual Fund was the worst loser, plunging by 7.07 percent.
CSCX, the selective categories index of the port city bourse, finished the day at 8,014 points, after declining 26.43 points or 0.32 percent.
Losers beat gainers 114 to 40 with 19 securities remained unchanged on the CSE floor that traded 55.38 lakh shares and mutual fund units.