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DSE turnover drops below Tk 20b mark again

Stocks post marginal gain after bumpy ride

FE REPORT | September 24, 2021 00:00:00

Daily trade turnover on Dhaka Stock Exchange (DSE) dropped below Tk 20 billion-mark once again Thursday as investors adopted cautious stance amid ongoing volatility in the market.

Turnover, a crucial indicator of the market, stood at Tk 18.52 billion on the country's premier bourse, falling by 14 per cent over previous day's mark of Tk 21.50 billion.

Stocks posted a marginal gain on Thursday though most of the traded issues witnessed price fall. Of the 375 issues traded, 185 declined, 145 advanced and 45 remained unchanged on the DSE trading floor.

The market opened higher and the key index rose about 32 points within the first hour of trading. But investors embarked on profit-booking during rest of the session, eroding most of the early gains.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up 8.75 points or 0.12 per cent to settle at 7,250, after losing 16.72 points in the previous day.

The DS30 index, comprising blue chips, also saw a fractional gain of 0.36 point to close at 2,673. However, the DSE Shariah Index fell by 1.46 points to finish at 1,581.

Market analysts said that many investors remained in a profit booking mood while bargain hunters took positions on lucrative stocks, taking the market indices almost flat.

"Stocks indices ended almost flat as investors trimmed their positions in the recently outperformed stocks," commented EBL Securities.

The stockbroker noted that participation in the market dropped due to the investors' approach as the benchmark index is witnessing volatility in the last couple of sessions.

A total number of 244,484 trades were executed in the day's trading session with a trading volume of 435.68 million shares and mutual fund units.

The market-cap of DSE stood at Tk 5,770 billion on Thursday, up from Tk 5,761 billion in the previous session.

Beximco topped the turnover list with shares worth Tk 969 million changing hands, closely followed by Orion Pharma, Beximco Pharma, Delta Life Insurance and SS Steels.

Evince Textiles was the day's top gainer, posting 8.87 per cent rise following its merger news with its subsidiary.

CVO Petrochemicals Refinery was the worst loser, losing 4.21 per cent despite the news that the company signed an agreement with the Bangladesh Petroleum Corporation (BPC), under which CVO will refine naptha buying from the corporation.

However, the Chittagong Stock Exchange (CSE), edged lower with the CSE All Share Price Index - CASPI -losing 11 points to settle at at 21,146 and the Selective Categories Index - CSCX-- shedding 6.60 points to close at 12,687.

Of the issues traded, 174 declined, 115 advanced and 26 remained unchanged on the CSE trading floor.

The port-city bourse traded 18.02 million shares and mutual fund units with turnover value of Tk 508 million.

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