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The Financial Express

Stocks witness yet another flat session

Turnover on DSE remains below Tk 1.0b-mark


FE ONLINE REPORT | Published: June 23, 2020 14:58:23 | Updated: June 25, 2020 10:27:20


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

Stocks witnessed yet another flat session on Tuesday as growing virus fears and the ‘floor price’ system kept the investors mostly on the sidelines.

DSEX, the key index of the Dhaka Stock Exchange, went up by 1.30 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 saw fractional losses. The DS30 index, comprising blue chips, dropped 0.35point to finish at 1,326 and the DSE Shariah Index shed 0.54 point to close at 918.

Turnover, a crucial indicator of the market, remained below Tk 1.0 billion-mark to Tk 720 million, which was 40 per cent higher than the previous day’s turnover of Tk 512 million.

Analysts said the market remained stand still as the pandemic situation is not improving and no positive signal for the capital market investors in the proposed budget while floor price limitation kept the investors on the sidelines.

The institutional investors are in a hands-off position as they are facing a liquidity crunch and the retail investors hold on to hard cash amid the economic uncertainty wrought by the virus outbreak, said a merchant banker.

Most of the shares remained stuck at the trading floor. Of the issues traded, 236 remained unchanged while only 14 issues advanced and 24 declined on the DSE floor.

Besides, the floor price system enforced by the securities regulator to check free fall of the indices kept the investors away from the trading activities, he said.

A total number of 15,456 trades were executed in the day’s trading session with a trading volume of 24.05 million shares and mutual fund units.

Beximco Pharma topped the turnover chart with shares worth Tk 90 million changing hands, followed by Bangladesh Submarine Cable Company, Monno Jute Stafflers, Linde Bangladesh and Central Pharma.

Tosrifa Industries was the day’s best performer, posting a gain of 3.81 per cent while Ambee Pharma was the worst loser, losing 6.13 per cent.

The Chittagong Stock Exchange ended slightly down with its All Shares Price Index (CASPI) losing 7.65 points to close at 11,248 and the Selective Categories Index (CSCX) losing 5.39 points to finish at 6,814.

Of the issues traded, 9 gained, 19 declined and 79 remained unchanged on the CSE.

The port city bourse traded 16.34 million shares and mutual fund units worth Tk 304 million in turnovers.

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