Home ›› 05 Nov 2021 ›› Stock
The trading activity at the Dhaka Stock Exchange (DSE) continued to plunge with the turnover sinking to a six-month low, as investors adopted a wait-see approach amid extreme volatility seen by the market in recent weeks.
The benchmark DSEX index snapped a four-day losing streak and recovered meager points on Thursday after a roller-coaster ride.
However, the market began to recover towards midday, aided by Beximco, BATBC, Lafarge Holcim, NRBC Bank and Grameenphone from investors. The upbeat mood of market players triggered a rally in the final hour of the session, helping the index end trading with a slight increase.
At close, the benchmark DSEX index gained marginally 8 points, or 0.12 per cent, to settle at 6,906, hitting a low of 6,864 and a high of 6,932.
The Shariah-based index DSES edged 1 point up or 0.06 per cent to 1,462 and the blue-chip DS30 index rose 15 points or 0.59 per cent to 2,601.
The extreme volatility made the investors cautious, putting stress on the trading activity. The DSE turnover continued to dive as it stood at Tk 1,068 crore. It is down 7.45 per cent and the lowest since April 28, 2021. Investors were mostly active in textile, bank and pharmaceuticals as the sectors together accounted for more than 40 per cent of the total turnover. Stocks that failed to meet investors’ dividend expectation or declared no dividend continued to lose ground throughout the week, said the EBL Securities in its market analysis.
“Most investors took a wait and see approach amidst the continued volatility before they make fresh investments,” it said.
The life insurance sector faced the most selling pressure, followed by travel and leisure, jute, NBFI, tannery, pharmaceutical, fuel and power, engineering, general insurance, telecom, mutual fund and bank.
The miscellaneous, cement, ceramics, IT, food and allied endured the selling pressure, however.
The worst losers included Quasem Industries, Prime Textile, First Finance and Bangladesh Monospool Paper Manufacturing Co.
Aamra Networks was the top gainer hitting almost the upper limit circuit at more than 9 per cent, followed by NRBC Bank, Salvo Chemical Industry, Shinepukur Ceramics, Alif Manufacturing Company and Standard Ceramic Industries.
Shares of 535 companies were traded. At the end of the day, 217 stocks closed higher, 302 declined and 16 remained unchanged.
Beximco was the most traded stock, followed by NRBC Bank, Lafarge Holcim Bangladesh, Orion Pharmaceuticals, IFIC Bank, Alif Manufacturing Company, SAIF Powertec, Delta Life Insurance and Beximco Pharmaceuticals.
The port city bourse, CSE also registered loss this week. CSCX and CASPI declined by 259.9 and 430.9 points respectively.
