DSE turnover hits below Tk 2.0b-mark

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FE Report
The week started with another negative session as the prices of most stocks on the country's two bourses declined Sunday amid volatile trading with low turnover as well.
DGEN, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,144.53 points, losing 30.23 points or 0.72 per cent as market started falling from the beginning amid thin and lack-lustre trading.
As for the past few weeks, turnover has been hovering around Tk 2.0 billion. Turnover composition was more or less same in terms of sector-wise data and DSE turnover stood at Tk 1.97 billion, down by 12.8 per cent from previous session.
Moreover, the sectoral movement that was slightly present in the last week remained absent on the day though insurance sector was the only sector to show resistance.
The Chittagong Stock Exchange also closed negative, with the CSE selective Category Index dropped 70 points to close at 8,039.13 points.
"The year-end effect seemed to put a drag on turnover, as institutional participation has been on the wane over the last few sessions," stated IDLC Investments in its regular analysis.
In addition, as political tensions started warming up, investors are slightly wary of the situation at this moment, and are mostly on an observer stance, the IDLC analysis said.
According to Zenith Investments' market analysis, critical liquidity crisis and investors' shallow presence have been deterring market's turnaround for a long time and the day's fall was nothing different from that.
"Slowly market is turning out to be into a bearish sidewalk. The day's fully bearish mood along with deepened liquidity crisis has indicated that it is likely to complete the bearish 5 wave which it started earlier in this month," commented the Zenith analysis.
"No significant improvement has been seen till date. Still most of the investors' concentration is on banks which is deterring the overall sectoral movement.