DSE turnover dips to Tk 2.23b

FE Report | Published: June 23, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

The market edged marginally lower Sunday with turnover dipped to four-week low as investors remained reluctant to make fresh investments amid shaky confidence.
Market sentiment has become shaky after the budget for the fiscal year 2014-15 that proposed some anti-capital market measures.
'The higher capital gain tax imposition and withdrawal of the provision for 10 per cent tax rebate for companies declaring more than 20 per cent dividend in the proposed budget, disappointed the investors," said an analyst.
DSEX, the prime index of the Dhaka Stock Exchange ended at 4,322.26 points, shedding 6.14 points or 0.14 per cent amid volatile trading throughout the session.
The other two indices also closed in negative. The DS30, comprising blue chips lost 9.58 points or 0.58 per cent to close at 1,593.88 points while the DSE Shariah Index (DSES) lost 4.17 points or 0.42 per cent to close at 988.79 points.
Turnover remained dry at DSE. The total turnover came down to Tk 2.23 billion which was 16.31 per cent lower from previous session's value of Tk 2.66 billion.
"The market is still under selling pressure as investors prefer to stay in the sideline and wait to see whether government changes the detrimental decisions taken in the proposed budget for FY 2014-15," commented LankaBangla Securities, in its daily market analysis.
Market is extremely cautious and warns against pinning much hope before the budget gets approved, said the stock broker, adding that investors are waiting and watching out how things pan out after next week.
International Leasing Securities said, "The investors stretched their meticulous trading strategy as they did not find any factors in the market that would reinvigorate their confidence to actively participate in the trading".
"Opening session absorbed another beat with different phases of volatility. The investors lack further re-assessment across market level, sentiment turned worse," said IDLC Investments.
The market was upheld with the support of some specific issues, especially Lafarge Surma Cement, Square Pharma and BSCCL, said the merchant bank.
However, the market breadth remained positive, as out of 292 issues traded, 140 advanced, 114 declined and 38 remained unchanged on the DSE floor.
Banks and food and allied were the only gainers among the major sectors which gained 0.67 per cent and 0.28 per cent respectively.
Telecommunications posted the highest loss -1.02 per cent. Pharmaceuticals, NBFIs and fuel and power went down by 0.80 per cent, 0.35 per cent and 0.11 per cent respectively.
Activities decreased in the major bourse (DSE) where trade and volume were up by 14.19 per cent and 10.75 per cent respectively. A total of 0.055 million trades were executed with 51.04 million securities of trading volume.
The total market capitalization on DSE came down to Tk 2,859.02 billion against Tk 2,866.25 billion in the previous session.
Lafarge Surma Cement was the most traded stocks for the fifth sessions with shares worth Tk 342.60 million changing hands followed by GP, Square Pharmaceuticals, BSCCL and Beximco.
Monno Stafflers was the day's highest gainer, posting a rise of 8.69 per cent while Asia Insurance was the day's worst loser, slumping by 13.63 per cent following its price adjustment after record date.
The port city bourse, Chittagong Stock Exchange (CSE) also closed in red with its Selective Categories Index - CSCX - lost 30.31 points to close at 8,234.56 points.
Gainers beat losers 95 to 59, with 27 issues remaining unchanged at the port city bourse that traded 4.61 million shares and mutual fund units, turnover value of Tk 166.85 million.