Trading remains sluggish on DSE, CSE

The market extended losing streak for the eight consecutive sessions Thursday with turnover remained sluggish as most of the investors are still reluctant to take fresh exposure in the market amid shaky confidence.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) slipped marginally by 7.92 points or 0.18 per cent to close at 4,363.08 points. In the last eight sessions, DSEX lost around 124 points.
However, the other two indices closed in positive zone. The DS30, comprising blue chips gained 0.53 points or 03 per cent to close at 1,604.39 points. The DSES gained 1.82points or 0.18 per cent to close at 996.90 points.
Trading activities at DSE remained sluggish with total turnover still hovering below Tk 2.0 billion. The total turnover stood at Tk 1.77 billion which was 12.73 per cent higher compared to previous session's 9-month lowest turnover of Tk 1.57 billion.
"The sluggish movements were still privileging in the market as the investors continued to prefer to stay in the sideline and participated cautiously," commented International Leasing Securities, in its regular market analysis.
"This stagnant condition of the market may continue till factoring any positive news in the market," said the International Leasing Securities.
 "The beat across market continued sustaining and subsequently condensed the fear of further toll amid investors. The market passed a week of negativity in all sessions with tension and dullness amid clienteles," said IDLC Investments.
News of increased export earnings by 11 per cent in FY 2013-14 and especially, garment's export crossing FY target could not stimulate investors much, said the merchant bank.
"Expectation on half-yearly and yearly earnings and upcoming monetary policy statement (MPS) still in setback," the merchant bank added.
LankaBangla Securities said: "Benchmark index closed the week red with straight seven days of losing steak in index, while DS30 and DSES continued to gain as few multinational companies, financial and Pharma stocks saw buying interest".
Market turnover is hovering below Tk 2.0 billion at current level, which indicates that selling pressure has been muted where investors might get lured to pump money into stocks, said the stock broker.
The losers took lead over the gainers as out of 297 issues traded, 147 declined, 99 advanced and 51 remained unchanged on the DSE floor.
Among the major sectors, food and allied and pharmaceuticals that landed in green with gaining 0.39 per cent and 0.36 per cent.
NBFIs lost 0.56 per cent and fuel and power lost 0.39 per cent. Telecommunications lost a mere 0.06 per cent. Banks closed flat in red.
Activities increased in the major bourse (DSE) where trade and volume were up by 2.21 per cent and 8.11 per cent respectively. A total of 0.048 million trades were executed in with 45.95 million securities of trading volume.
The market capitalisation on the DSE stood at Tk 2,889.83 billion against Tk 2,894.28 billion in the previous session.
Olympic Industries was the most traded stock with shares worth Tk 139.44 million changing hands followed by GP, Beximco, Heidelberg Cement and FAR Chemical.
Bangladesh Industrial Finance Corporation (BIFC) was the day's highest gainer for the second session, posting a rise of 6.56 per cent while Midas Financing was the day's worst loser, slumping by 8.75 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended in positive zone with its Selective Categories Index - CSCX - gained slightly by 4.38 points to close at 8,327.12 points.
Losers beat gainers 98 to 60, with 33 issues remaining unchanged at the port city bourse that traded 4.68 million shares and mutual fund units, turnover value of Tk 135.09 million.