DSE turnover hits below Tk 3.0 billion-mark

FE Report | Published: March 17, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks ended lower for the third running session Sunday with turnover on the prime bourse dipped below Tk 3.0 billion-mark once again as investors remained reluctant to make fresh investments.
Meanwhile, trading on both bourses --- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) will remain closed today (Monday) on the occasion of public holiday due to birthday of Bangabadhu Sheikh Mujibur Rahman.
The market opened with a negative note and the downtrend continued till the market closure. At the end of the session, the prime index of the DSE (DSEX) came down below 4,600 points mark and ended at 4,591.17 points, shedding 44.16 points or 0.95 per cent.
The other two indices also closed lower. The DS30, comprising blue chips lost 13.95 points or 0.83 per cent to close at 1,657.72 points. The DSE Shariah Index (DSES) went down by 4.79 points or 0.47 per cent to close at 1,009.29 points.
Turnover on DSE came down to Tk 2.92 billion, registering 17.28 per cent decline over the previous session's value of Tk 3.53 billion. It was also two and a half month low turnover since Tk 2.64 billion on December 29, 2013.
"The stock market witnessed substantial setback along with less investors' participation mainly due to poor performance of banks, financial institutions and fuel & power," commented International Leasing Securities.
Clearly, the investors restrained themselves from participation in such negative market condition as turnover dropped to Tk 2.92 billion, the International Leasing Securities added.
"Shed-offs in financial sectors, particularly bank, formed a strong push in the market, driving DSEX by 44 points and extending losing streak to third consecutive session. Resultantly, DSEX went below 4,600 and approached 38th sessions' bottom of 4,591 points," said IDLC Investments.
Besides, prolonged spikes at scrips level kept investors more cautious and prompted them to uphold side-line strategy. Consequently, draught in investors' participation was also observable as turnover recorded at 52nd sessions' base, the merchant bank said.
"The market fails to provide any definitive swing out of risk, as stock prices continues to rattle due to weak performance of some major sectors," observed Zenith Investments.
"After showing downturn over the course of the previous sessions, stocks saw further downside. Traders are most likely looking to move out of rate sensitive bank and manufacturing stocks bagging some profit on those," said LankaBangla Securities.
Fully cash adjustment of Southeast Bank has realised a loss of 9.9 per cent in market capitalisation which also weigh on the banking sector pushing it 2.22 per cent down, the stock broker said.
"The steep decline in the benchmark index has mainly resulted from banks which went down by 2.22 per cent. Three banks also featured in the top ten losers chart," said BRAC EPL.