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Stocks keep falling amid low turnover

FE Online Report | Published: February 01, 2018 16:00:48 | Updated: February 03, 2018 11:42:14


Stocks extended the losing streak for the third running session on Thursday amid sluggish trading activities as investors were mostly inactive to put fresh fund on stocks.

Dealers said the market maintained the bearish trend as cautious investors refrained from making fresh investment, taking the market turnover two-week low.

 “Concern over political uncertainty cantering upcoming verdict of Khaleda Zia’s graft case scheduled for February 8, coupled with possible liquidity crisis in the market due to the central bank’s directive to slash the limit of banks’ advance-deposit ratio (ADR) kept investors at bay,” said an analyst at a leading brokerage firm, seeking anonymity.

After witnessing volatility throughout the session, finally DSEX, prime index of Dhaka Stock Exchange (DSE), settled at 6,021, losing more than 18 points or 0.30 per cent over the previous session, after witnessing the largest single-day fall in 12 months in the previous day.

Two other indices of the premier bourse also ended lower. The DS30 index, comprising blue chips, fell 11 points or 0.49 per cent to finish at 2,228 and DSES (Shariah) lost 1.42 points or 0.10 per cent to close at 1,397.

Bearish sentiment also reflected on the trading activities as total turnover on the DSE amounting to Tk 3.29 billion, which was 30 per cent lower than the previous day’s Tk 4.72 billion.

It was also the two-week lowest turnover since January 14, when turnover totalled Tk 3.28 billion.

Out of 336 issues traded, 151 closed lower, 137 higher and 48 remained unchanged on the DSE trading floor.

Grameenphone (GP) topped the turnover chart with shares worth Tk 193 million changing hands, followed by Monno Ceramic Industries, LankaBangla Finance, Alif Industries and Square Pharmaceuticals.

Port city bourse CSE also closed lower with CSE All Share Price Index – CAPSI- shedding 67 points to settle at 18,624 and Selective Categories Index - CSCX – falling 43 points to finish at 11,249.

Here too, the losers beat the gainers as 124 issues closed lower, 76 ended higher and 32 remained unchanged on the CSE.

The port city bourse traded 12.21 million shares and mutual fund units worth nearly Tk 1.20 billion in turnover, riding on Brac Bank and Square Pharmaceuticals.

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