Stocks kept their losing streak with daily trade turnover on the prime bourse dipped to 14 months low on Tuesday as investors were mostly reluctant to make fresh investment in stocks.
Market analysts said lack of investors’ confidence coupled with liquidity crunch, taking toll on stock prices.
Turnover, a crucial indicator of the market, stood at Tk 2.511 billion on the country’s premier bourse, slumping further by 18 per cent over previous day’s mark of Tk 3.05 billion.
It was the lowest single-day transaction since March 25, 2018, when the turnover totaled a record Tk 2.24 billion.
The market opened on positive note and the key index of the major bourse rose about 15 points within first hour of trading. But late hours selling pressure wiped out all the early gains.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,217 points, losing 29.91 points or 0.56 per cent over the previous session.
Two other induces also closed lower. The DS30 index, comprising blue chips, fell 10.88 points to finish at 1,825 and the DSE Shariah Index shed 7.0 points to close at 1,203.
The losers took a strong lead over the gainers as out of 347 issues traded, 219 declined, 76 advanced and 52 issues remained unchanged on the DSE trading floor.
A total number of 72,470 trades were executed in the day’s trading session with trading volume of 84.83 million securities.
The market capitalisation of the DSE also fell to Tk 3,845 billion on Tuesday, from Tk 3,864 billion in the previous session.
Fortune Shoes topped the turnover chart again with 4.01 million shares worth nearly Tk 152 million changing hands.
The other turnover leaders were Bangladesh Shipping Corporation, Power Grid Company, Esquire Knit Composite and Oimex Electrode.
ICB AMCL Sonali Bank 1st Mutual Fund was the day’s best performer, posting a gain of 7.46 per cent while RN Spinning Mills was as the worst loser, losing 6.06 per cent.
The port city bourse, Chittagong Stock Exchange, also ended lower with its CSE All Share Price Index – CASPI –shedding 93 points to settle at 15,962 points and the Selective Categories Index - CSCX –losing 56 points to finish at 9,665.
Here too, the losers beat gainers, as 142 issues closed lower, 52 ended higher and 29 remained unchanged on the CSE.
The port city bourse traded 4.80 million shares and mutual fund units worth more than Tk 145 million in turnover.
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