DSE turnover dips below Tk 4.0 billion-mark

The market saw further correction on Tuesday with turnover on the prime bourse dipped below Tk 4.0 billion-mark once again as depressed earnings growth empowered with recent waning tone unleashed panic sale pressure.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) came down below 4,600 points mark after 7-session and ended at 4,567.04 points, shedding 57.71 points or 1.24 per cent.
The other two indices also ended lower. The DS30, comprising blue chips lost 19.73 points or 1.16 per cent to close at 1,668.91 points. The DSE Shariah Index (DSES) also lost 4.69 points or 0.46 per cent to close at 1,012.35 points.
The total turnover value on DSE came down to Tk 3.87 billion, registering a decline of 11.03 per cent over the previous session's value of Tk 4.35 billion.
"The market confronted significant setback with sluggish investors' participation. Quarterly earnings declaration of several companies failed to impact the market sentiment positively," commented International Leasing Securities, in its regular market analysis.
Mainly, weak performance of major sectors like banks, financial institutions, fuel & power and food & allied caused DSEX to slip, said the International Leasing.
"Market continued to fall into red territory amid substantial volatility as banking stocks were under pressure and manufacturing stocks continued to drag," commented LankaBangla Securities.
Market is seemed to react to the fundamental stocks as index is likely to take cue from the quarterly and annual earnings of the companies, said the stock broker.
"Investors churned their portfolio heavily with some picky stocks in recent time and they were mostly bullish on multinational stocks over financial and other local manufacturing stocks," the stock broker added.