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Most stocks tumble as investors stay aloof

Turnover hits lowest since Jan 9

FE Report | February 20, 2023 00:00:00

The premier bourse recorded lowest turnover on Sunday since January 9 this year as investor participation declined significantly.

The Dhaka Stock Exchange (DSE) posted a turnover of Tk 2.85 billion, which was 16.22 per cent less than the turnover of the previous session. Most securities experienced price erosion.

Earlier, the DSE posted a turnover of Tk 3.34 billion on January 9.

Market operators said investors were inactive following the bearish trend of the capital market.

Jittery investors are following 'wait & see' approach because of the rumors of the floor prices to be lifted, said International Leasing Securities.

DSEX, broad index of the Dhaka bourse, exhibited a downward trend throughout the session and finally settled at 6227.93 points with a loss of 0.29 per cent or 18.27 points.

The Shariah-based index DSES and DS30 index comprising blue chip securities also fell marginally on the premier bourse.

Of the 301 issues traded, 18 advanced, 150 declined and 133 were unchanged.

Of the sectors which saw correction, pharmaceuticals & chemicals declined 0.1 per cent, textile 0.2 per cent, and fuel & power 0.1 per cent.

Investors' participation was concentrated mostly on pharmaceuticals & chemicals sectors which captured 13.1 per cent of the market turnover followed by miscellaneous 12.4 per cent, IT 11.7 per cent, and food & allied 10 per cent.

Bangladesh Shipping Corporation topped the scrip-wise turnover chart with shares of Tk 269 million traded, followed by Shinepukur Ceramics Tk 133 million, Genex Infosys Tk 121 million, Olympic Industries Tk 115 million and Apex Footwear Tk 114 million.

ICB AMCL CMSF Golden Jubilee Mutual Fund was the number gainer with a rise of 9.33 per cent to close at Tk 8.20 each.

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