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The Financial Express

Stocks inch up, but turnover remains low

FE ONLINE REPORT | Published: June 24, 2020 15:14:55 | Updated: June 27, 2020 11:10:37


Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks inched up on Wednesday amid low turnover as investors mostly followed cautious stance due to worsening pandemic situation and floor price limitation.

DSEX, the key index of the Dhaka Stock Exchange, went up by 1.48 points to settle at 3,963 during the three-hour trading session.

The DSE core index is hovering between 3,950 and 3,970 points for more than two weeks amid worsening virus situation, floor price limitation and disappointment over the proposed budget.

Two other indices also saw fractional gains. The DS30 index, comprising blue chips, advanced 0.97 point to finish at 1,327 and the DSE Shariah Index rose 0.35 point to close at 918.

Turnover, a crucial indicator of the market, remained below Tk 1.0 billion-mark to Tk 541 million, which was 25 per cent lower than previous day’s turnover of Tk 720 million.

Analysts said the market remained stand still as the pandemic situation in the country is not improving. Besides, absence of positive signal for the capital market investors in the proposed budget together with floor price limitation kept the investors at bay.

Most of the shares remained stuck at the trading floor. On the DSE, of the issues traded, 233 remained unchanged while only 23 issues advanced and 15 declined.

A total number of 12,413 trades were executed in the day’s trading session with a trading volume of 25.23 million shares and mutual fund units.

Al-Arafah Islami Bank topped the turnover chart with shares worth Tk 60 million changing hands, followed by Exim Bank, Beximco Pharma, Bangladesh Submarine Cable Company and Linde Bangladesh.

Eastern Lubricants was the day’s best performer, posting a gain of 3.78 per cent while Beximco Synthetics was the worst loser, losing 8.57 per cent.

The Chittagong Stock Exchange also ended slightly higher with its All Shares Price Index (CASPI) advancing 8.08 points to close at 11,256 and the Selective Categories Index (CSCX) gaining 3.62 points to finish at 6,817.

Of the issues traded, 20 gained, 11 declined and 73 remained unchanged on the CSE.

The port city bourse traded 11.94 million shares and mutual fund units worth Tk 116 million in turnovers.

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