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DSE turnover remains below Tk 1.0b-mark for 12 sessions

Virus goes virulent

FE REPORT | June 25, 2020 00:00:00

Stocks remained almost dull for the past 16 sessions Wednesday as the investors are losing appetite for buying shares even at the lowest possible prices amid worsening pandemic situation.

DSEX, the key index of the Dhaka Stock Exchange, went up by 1.48 points to settle at 3,963 during the three-hour trading session.

The DSE core index is hovering between 3,950 and 3,970 points in more than two weeks as floor price limitation and disappointment over the proposed budget kept the investors at bay.

Two other indices edged up. The DS30 index, comprising blue chips, advanced 0.97 point to finish at 1,327 and the DSE Shariah Index rose 0.35 point to close at 918.

Turnover, a crucial indicator of the market, remained below Tk 1.0 billion-mark for the 12-trading sessions to Tk541 million, which was 25 per cent lower than previous day's turnover of Tk720 million.

Market operators said the investors remained cautious - owing to uncertainty looming over the economy due to the pandemic and no positive signal for the capital market development in the proposed budget.

Most of the shares remained stuck at the trading floor amid floor price limitation. Of the issues traded, 233 remained unchanged while only 23 issues advanced and 15 declined on the DSE floor.

The market continued extending the dull period as investors' fears are growing over the worsening pandemic situation along with floor price system, commented EBL Securities.

The stockbroker noted that the ongoing quarterly earning results and dividend declaration left no impression on investors.

A total number of 12,413 trades were executed in the day's trading session with a trading volume of 25.23 million shares and mutual fund units.

Al-Arafah Islami Bank topped the turnover chart with shares worth Tk60 million changing hands, followed by Exim Bank, Beximco Pharma, Bangladesh Submarine Cable Company and Linde Bangladesh.

Eastern Lubricants was the day's best performer, posting a gain of 3.78 per cent while Beximco Synthetics was the worst loser, losing 8.57 per cent.

The Chittagong Stock Exchange ended slightly higher with its All Shares Price Index (CASPI)-advancing 8.08 points to close at 11,256 and the Selective Categories Index - CSCX -gaining 3.62 points to finish at 6,817.

Of the issues traded, 20 gained, 11 declined and 73 remained unchanged on the CSE.

The port city bourse traded 11.94 million shares and mutual fund units worth Tk116 million in turnovers.


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