Turnover hits below Tk 6.0 billion-mark

FE Report | Published: January 29, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks edged lower for the second running session Tuesday with turnover dipped below Tk 6.0 billion-mark on the premier bourse as investors continued to book profit amid cautious trading.
The market opened with a positive note and the key index of the Dhaka Stock Exchange (DSE) --- DSEX --- gained 22 points within first 30 minutes of trading, but it could not sustain later, eventually ended lower.
The prime index of the DDSE --- DSEX --- went down by 45.07 points or 0.94 per cent to close the session at 4,706.54 points from previous session. DSEX completed its first year at DSE since its launch on January 28, 2013 and marked a staggering 16.0 per cent gain over the period.
The DS30 index, comprising blue chips declined 11.92 points or 0.72 per cent to close at 1,647.68 points. The DSEX Shariah Index (DSES) also went sharply by 10.71 points or 1.09 per cent to close the session at 971.55 points.
The turnover value on the DSE came down below Tk 6.0 billion mark after 12-session and amounted to Tk 5.93 billion, registering 11.77 per cent decline over the previous session's value of Tk 6.72 billion.
"The profit booking on stocks provided selling pressure on market and pushed index to take correction for one more day," said LankaBangla Securities, a leading stock broker, in its daily market analysis.
"It was a stellar rally at the end of trading session setting the 4,700 level as a short term support for the index. Some stocks have met the short interest for take a squeeze before future rally".
Recent run up seen in the stock market can be largely attributed to the political easing. Thus, a slide of 45.1 points or 0.95 per cent in DSEX can be considered as consolidation closing the index finally to 4,707 points, said the stock broker.
"DSEX shed 45 points, as sell pressure spiked further. Activities stunned in response, as investors took position in the sideline, pulling turnover down to Tk 6.0 billion mark," said IDLC Investments.
"Announcement of latest Monetary Policy Statement (MPS) could not exert any tangible influence in day's market, while profit booking wave touched Bank and NBFIs, losing 1.92 per cent and 1.42 per cent respectively," said the merchant bank.
Losers beat gainers 181 to 76, with 35 issues closed unchanged on the DSE floor.