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The Financial Express

Stocks end nearly flat; turnover remains low

FE ONLINE REPORT | Published: June 22, 2020 15:09:22 | Updated: June 22, 2020 22:17:45


Traders, wearing protective gears, monitoring stock price movements on computer screens at a brokerage house in Dhaka city — FE/Files Traders, wearing protective gears, monitoring stock price movements on computer screens at a brokerage house in Dhaka city — FE/Files

Stocks ended nearly flat on Monday as investors were mostly inactive due to pandemic fears and disappointment over the proposed budget.

DSEX, the key index of the Dhaka Stock Exchange, saw a fractional loss of 0.93 point to settle at 3,962 during the three-hour trading session.

The DSE core index has been hovering between 3,950 and 3,970 points for the past two weeks as most of the sellers find almost no buyers due to floor price limitation and worsening virus situation.

Two other indices also saw a fractional loss. Of them, DS30 index, comprising blue chips, fell 0.12 point to finish at 1,326 and Shariah index shed 0.14 point to close at 918.

Turnover, a crucial indicator of the market, remained below Tk 1.0 billion-mark to Tk 512 million, which was 32 per cent higher than previous day’s 13-year lowest turnover of Tk 386 million.

Market analysts said investors found nothing special for the capital market development in the proposed budget while the worsening virus situation and floor price limitation kept the investors on the sidelines.

“Lack of institutional buyers coupled with the current floor price limitation is preventing many investors from selling shares,” said a leading broker.

Most of the shares remained stuck at the trading floor.

Of the issues traded, 218 remained unchanged while only 17 issues advanced and 15 declined on the DSE floor.

A total number of 15,464 trades were executed in the day’s session with a volume of 15.26 million shares and mutual fund units.

Beximco Pharma topped the turnover chart with shares worth Tk 57 million changing hands, followed by Wata Chemicals, Pharma Aids, Indo-Bangla Pharma and Exim Bank.

Sonali Aansh Industries was the day’s best performer, posting a gain of 7.18 per cent, while Prime Bank was the worst loser, losing 2.73 per cent following its price adjustment after record date.

However, Chittagong Stock Exchange edged up with its All Shares Price Index (CASPI) advancing 4.97 points to close at 11,255 and the Selective Categories Index (CSCX) gaining 2.77 points to finish at 6,819.

Of the issues traded, 18 gained, 12 declined and 64 remained unchanged on the CSE.

The port city bourse traded 4.19 million shares and mutual fund units worth Tk 92 million in turnovers.

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