Turnover on Dhaka Stock Exchange (DSE) dipped to a nine-month low Wednesday as investors were reluctant to take fresh exposure in the market amid shaky sentiment.
Turnover, the most important indicator of the market came down to Tk 1.57 billion, which was 28 per cent lower over the previous session's value of Tk 2.18 billon. It was the nine months lowest turnover since Tk 1.10 billion recorded on October 20, 2013.
The market opened in green, but soon lost momentum and closed the session in red. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 5.52 points or 0.12 per cent to close at 4,371.00 points. DSEX lost 116.07 points in the last seven consecutive sessions.
The DS30, comprising blue chips lost 2.68 points or 0.16 per cent to close at 1,603.86 points. However, DSE Shariah Index (DSES) remained flat closing the index with 0.93 points up to 995.07 points.
"The ongoing pessimism kept investors mostly inactive, bringing the turnover to a nine-month low," said an analyst.
"Market acted mixed as some cautious investors booked some profit on stocks which rallied strongly in earlier sessions," commented LankaBangla Securities, in its regular market analysis.
Market was mostly in lackluster mood with turnover value of Tk 1.57 billion creating 2014's new low as investors are still eyeing on Q2 earnings which will appear in the screen soon, said the stock broker.
IDLC Investments said that overall shaky market sentiment took the toll in investors' participation and recorded nearly at nine months' lowest turnover and magnified the negative tone prevailing in market.
"Profit taking spree observed in the last weekend extended further, keeping the bourse in negative territory for seven sessions," said the merchant bank.
"Shaky confidence and short-sighted loss-aversion tendency tied the investors with 'wait and watch' approach and therefore turnover fell 28 per cent," said International Leasing Securities.
The market breath, however, remained positive as out of 292 issues traded, 123 advanced, 116 declined and 53 remained unchanged on the DSE floor.
Among the large cap sectors only NBFIs closed positive with 0.18 per cent gain. Food and allied lost the most among the major sectors which lost 1.15 per cent.
Fuel and power and pharmaceutical edged down by 0.30 per cent and 0.25 per cent respectively. Telecommunication lost 0.08 per cent. Banks closed flat.
Activities decreased in the major bourse (DSE) where trade and volume were down by 22.48 per cent and 18.44 per cent respectively. A total of 0.047 million trades were executed with 42.51 million securities of trading volume.
The market capitalization on the DSE stood at Tk 2,894.28 billion against Tk 2,896.71 billion in the previous session.
GrameenPhone was the most traded stock with shares worth Tk 90.60 million changing hands followed by Lafarge Surma Cement, Beximco, FAR Chemical and Appollo Ispat.
Bangladesh Industrial Finance Corporation (BIFC) was the day's highest gainer, posting a rise of 9.6 per cent while FAR Chemical was the day's worst loser, slumping by 5.51 per cent after previous day's 426 per cent gain.
The port city bourse, Chittagong Stock Exchange (CSE) also ended in red with its Selective Categories Index - CSCX - lost 16.14 points to close at 8,322.74 points.
Losers beat gainers 107 to 55, with 39 issues remaining unchanged at the port city bourse that traded 4.06 million shares and mutual fund units, turnover value of Tk 125.43 million.
