Steep decline in DSE daily turnover, DSEX rises again

The daily turnover at the Dhaka Stock Exchange declined by Tk 670 crore or 24.66 per cent on Monday, though the key index remained afloat on green territory defying the investors’ profit booking sell pressure.

The Dhaka bourse registered transactions worth Tk 2,708 crore on the previous session, but it fell to Tk 2,040 crore on Monday.

However, DSEX, the benchmark index of the bourse, regained its upward trend and went up by 16.0 points or 0.22 per cent to settle at 7,218 points on the day.

The blue chip index – DS30 – advanced by 2 points and settled at 1,578 while the Shariah index – DSES – declined by 2 points to settle at 2,635 points.

EBL Securities, in its market review, said that the capital market observed intense volatility as buyer went for selling their holdings since the beginning of the session. Later, the price surge of some large-cap stocks helped the index to close higher.

Besides, Bangladesh Securities and Exchange Commission’s (BSEC) instruction to ensure 10 per cent free-float shares enticed considerable sell pressure in the Walton, Berger & ICB shares, it said.

In an aftermath of the regulatory move, the investors intended to avoid possible losses due to increase number of share supply in the market, observed the stock brokerage company.

On the sectoral front, Pharma & Chemical (11.58 per cent), Engineering (10.38 per cent), and Miscellaneous (10.16 per cent) issues were in most demand on Monday.

Most of the sectors observed mixed performance, out of which Travel (5.2 per cent), Services (2.6 per cent), and Textile (2.4 per cent) have exerted the most returns.

Apart from that, Engineering (-3.7 per cent), Financial Institution (-3.3 per cent), and Life Insurance (-2.5 per cent) observed corrections on the bourse.

Out of the 375 issues traded, 189 advanced, 143 declined, and 43 remained unchanged on the day.

Block trades contributed 1.7 per cent of the overall market turnover.

The ICB witnessed the highest price correction – Tk 12.3 or 8.66 per cent – at the Dhaka bourse on Monday. Its share price, which was Tk 142 in the previous session, declined to Tk 129.

At the same time, Walton, Berger Paints, Savar Refractories, Bangladesh National Insurance, Bata Shoes, Singer BD, National Life Insurance, Delta Life, and Islami Insurance were the top loser companies on the day.

On the other hand, Metro Spinning gained the most as its share price, which was Tk 27 on the previous day, rose to Tk 29.9 at the Dhaka bourse.

Apart from that, SBAC Bank, Alif Industries, Deshbandhu, Fu-Wang Food, Envoy Textiles, Maksons Spinning were the most gaining companies.

Meantime, the port city bourse, CSE, also inched up in green terrain.

The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 23.7 points and 44.7 points respectively.