DSE turnover hits three-week low as investors tread cautiously

The Dhaka Stock Exchange (DSE) posted a three-week low turnover on Monday as many investors opted for a cautious approach when considering fresh positions in stocks.

Compared to the previous day, the turnover declined by 15 per cent to Tk 6.33 billion on the premier bourse. This figure is the lowest since July 5, when the turnover amounted to Tk 8.9 billion.

On Monday, most sectors on the DSE witnessed marginal declines, with the benchmark index DSEX closing at 6,337 points, down 0.07 per cent or 4.67 points from the previous day.

Active investors traded on both sides of the market, causing volatility throughout the trading session.

The DSEX initially showed a moderate decline, but it recovered during the midsession as investors increased their participation. However, the momentum waned after the midsession.

The blue-chip index DS30, which experienced a 10-month high loss in the previous session following routine revision, declined marginally on Monday. Of the 30 blue-chip stocks, nine saw price corrections ranging between 0.21 per cent and 2.5 per cent.

Block trades contributed 4.1 per cent to the overall market turnover of the DSE.

Out of the 357 issues traded, 69 advanced, 104 declined and 184 remained unchanged.

The most traded stock, Fu Wang Food, featured a trade volume of Tk 303 million, followed by Rupali Life Insurance Company, Khan Brothers PP Woven Bag Industries and Sea Pearl Beach Resort & Spa.

The majority of general insurers experienced a price appreciation, with companies from this sector dominating the chart of top gainers.

Of the 10 gainers, eight were insurers and the other two were banks, including Meghna Insurance Company, Continental Insurance, United Insurance and Crystal Insurance Company.

They experienced price appreciation ranging from 7.87 per cent to 9.80 per cent per share.

Rupali Bank witnessed the highest appreciation of 9.84 per cent and closed at Tk 34.6.

Among the major sectors, food and allied experienced the highest loss of 0.22 per cent, followed by pharmaceuticals, engineering and fuel & power, according to a market review by BRAC EPL Stock Brokerage.

The companies with poor fundamentals were the day's top losers, with Aziz Pipes being the worst performer, as it plunged 7.91 per cent to close at Tk 116.3.

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