Turnover hits 9-month low amid investors’ protest

FE Report | Published: July 14, 2014 00:00:00 | Updated: November 30, 2025 06:01:00

Turnover on Dhaka Stock Exchange (DSE) came down to Tk 1.50 billion, hitting a fresh nine-month low Sunday as ongoing pessimism kept investors mostly inactive in the market.
Investor's participation shaded significantly, plunging turnover to Tk 1.50 billion which was 15.25 per cent lower over the previous session's value. It was also the lowest turnover since Tk 1.10 billion on October 20, 2013.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 18.72 points or 0.42 per cent to close at 4,344.36 points. DSEX lost around 143 points nine sessions in a row.
The other two indices also closed lower. The DS30, comprising blue chips lost 9.12 points or 0.56 per cent to close at 1,595.27 points. The DSES dropped 6.63 points or 0.66 per cent to close at 990.26 points.
Meanwhile, a group of investors formed a human chain in front of Bangladesh Securities and Exchange Commission (BSEC) protesting the continuous fall of share prices.
Under the banner of affected small investors, the leaders of Bangladesh Capital Market Investors' United National Alliance (BCMIUA) also placed six point demands to the securities regulator.
IDLC Investments, in its regular market analysis, said that depressed tone extended further as fear of further decline still prevailed in market.
"Investors' cashing out tendency ahead of Eid-ul-Fitr prolonged while, fresh fund injection remained in setback," said the merchant bank.
Some news on macroeconomic issues, like declined inflation and RMG's record export of $24.5 billion couldn't keep its sign in market, the merchant said.
Overall market level dullness beat on investors' confidence. Consequently, participation shaded very significantly, dipping turnover at year's lowest of Tk 1.50 billion, the merchant bank added.
"Investors' sentiment still remains shaky as they are unsure about the future market direction," said LankaBangla Securities.
The investors closely observed the market movement following the news like higher interest spread rate, rising RMG export and they were demanding clear indication of the trend reversal in the market, said International Leasing Securities.
"The market fell to such level where the investors preferred holding their shares to selling them in the market to avoid huge losses," said the International Leasing.
Zenith Investments said: "It is unlikely that the market may make any noteworthy move for this month, but after the Eid festival, future prospect of the market looks promising".
The losers took lead over the gainers as out of 291 issues traded, 179 declined, 63 advanced and 49 remained unchanged on the DSE floor.
All the major sectors closed with red mark. NBFIs and telecommunications lost the most -- 1.22 per cent and 1.05 per cent respectively.
Fuel and power and pharmaceuticals lost 0.64 per cent and 0.60 per cent respectively. Banks edged down 0.24 per cent and food and allied lost 0.09 per cent.
Activities decreased in the major bourse (DSE) where trade and volume were down by 10.80 per cent and 8.58 per cent respectively. A total of 0.043 million trades were executed with 42.01 million securities of trading volume.