Home ›› 25 Sep 2021 ›› Stock

Average DSE turnover falls for 2nd straight week amid rising stocks

Staff Correspondent
25 Sep 2021 00:00:00 | Update: 25 Sep 2021 00:36:47
Average DSE turnover falls for 2nd straight week amid rising stocks

The average daily turnover at the Dhaka Stock Exchange (DSE) has been declining for the last two weeks though the indices witnessed mixed sessions throughout the period.

The average turnover fell by about 13 per cent to Tk 1,942 crore last week while the figure was Tk 2,224 crore in the previous week.

Market insiders say the disagreement between the Bangladesh Bank and the Bangladesh Securities and Exchange Commission on various issues has made investors more cautious.

As a result, many of them are now focused on taking advantage to book profits from the market, they say.

EBL Securities, in its weekly market review, said the index witnessed mixed sessions and volatility last week, continuing the trend from the previous week, and most investors opted for a cautious approach while some investors engaged in profit booking.

The main index of the market – DSEX – increased by 22 points or .031 per cent to 7,250 points last week while it declined by over 30 points or 0.42 per cent in the previous week.

The DSE market capitalisation increased by 0.45 per cent to Tk 5.77 lakh crore last week.

EBL said in its analysis that investors were mostly active in textile (14.2 per cent), pharma and chemical (13.3 per cent), and financial institution (10.3 per cent) sectors.

Majority of the sectors observed correction, out of which travel (5.6 per cent), engineering (5.6 per cent) and services (3.9 per cent) experienced positive performance this week while paper (-5.7 per cent), jute (-5.7 per cent), and mutual fund (-3.1 per cent) witnessed price correction.

Pacific Denims turned out to be the top gainer company last week as its share price increased by 24.66 per cent and daily average turnover was Tk 20.41 crore.

This week, investors showed no interest in the ‘Z’ category company Monospool Paper, forcing it to be the top loser. Its share price declined by 18.39 per cent.

However, the finance ministry’s decision to deduct saving certificates’ interest rates may lead to some new funds’ injections in the market, said analysts.

They hoped the capital market would see more turnovers in the coming week, thanks to the decision.

EBL Securities mentioned that last week’s top index pullers at the DSE were Eastern Bank and Beximco Pharma. Their contributions to the main index are 17 and 12.3 per cent respectively.

Meanwhile, Olympic Industries and Beacon Pharma were the main DSEX draggers. For the two companies, the index declined by 6.5 and 4 per cent respectively.

Meanwhile, the port city bourse, Chittagong Stock Exchange, also registered a slight gain this week with CSCX and CASPI advancing by 4.6 and 4.7 points respectively.

×