DSE turnover slumps below Tk 8b-mark

Stocks extended the losing streak for the seventh straight day on Tuesday, with turnover falling below the Tk 8.0 billion mark after three weeks as investors mostly followed a cautious stance.

Turnover, the crucial indicator of the market, stood at Tk 7.65 billion, which was 6.5 per cent lower than the previous day’s mark of Tk 8.18 billion.

The market opened positive in the morning and the key index soared 35 points after the first two hours of trading. But the rest of the session went down amid profit booking sale pressure.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), finally settled at 6256, losing almost 3 points over the day before. The DSEX shed 191 points in the past seven trading days.

Market analysts said most investors continued to prefer to bag profit as many stocks saw significant price jumps after floor price removal while some followed a cautious stance amid prevailing volatility in the market.

“The prevailing volatility in the market has faded the reinstated investors’ optimism and prompted risk-averse investors to liquidate their holdings,” said a stockbroker.

The DSES index, which represents Shariah-based companies, saw 1.55 points fall to close at 1,359. However, the DS30 Index, which consists of blue-chip companies, managed to gain 0.84 points to 2,132.

Of the 392 issues traded, 184 saw price appreciation, 166 witnessed price erosion and 42 remained unchanged on the DSE trading floor.

Orion Infusion became the most traded stock, with shares worth Tk 599 million changing hands, followed by newly listed Best Holdings (Tk 312 million), Aftab Automobiles (Tk 226 million), Bangladesh Shipping Corporation (Tk 221 million) and Fu-Wang Ceramics (Tk 208 million).

The Chittagong Stock Exchange also ended lower with its All Shares Price Index (CASPI)—losing 40 points to close at 17,950 and the Selective Categories Index (CSCX) shed 22 points to close at 10,751.

Of the issues traded, 129 declined, 102 advanced, and 32 issues remained unchanged on the CSE.

The port city bourse traded 4.39 million shares and mutual fund units with a turnover value of Tk 135 million.

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