Home ›› 04 Apr 2022 ›› Stock
Ramadan has a significant negative impact on the daily trade volume of the Dhaka Stock Exchange (DSE), dealers say.
The trade volume by value declined more than 25 per cent, over the previous session, to Tk 836 crore. “This might be the outcome of shortened trading and banking hours and religious perception of investors,” said a stockbroker.
However, Dhaka stocks managed to extend their marginal gains for the second straight session from news of the inflow of funds from the institutional investors pushed by the securities regulator.
The benchmark DSEX index rose over 14 points or 0.20 per cent to settle at 6,771. In two days, it added 18 points.
The Shariah-based index was up over 2 points or 0.19 per cent to 1,470 and the blue-chip comprising DS30 index added almost 14 points or 0.56 per cent to 2,487.
The stock exchange cut the trading hours by 30 minutes to 2:30 pm instead of the usual 3pm.
“The equity indices of the capital bourse stood higher as the optimistic investors are showing buying interest in lucrative issues after regulators’ actions boosted investor confidence,” said EBL Securities in a note.
“Within the reduced trading window due to the holy month of Ramadan, bourses observed a decrease in participation,” it said.
The month-long Ramadan — when the faithful fast from dawn to dusk — began at sunrise Sunday in the country.
Buyers mainly favoured financial institution stocks driven by IPDC—the second-best gainer after JMI Hospital Requisite that hit the upper limit circuit at 10 per cent on its second trading day.
Cement, mutual fund, and telecommunication sectors also attracted investors. On the flip side, jute, general insurance, and tannery faced the most correction on the day.
Losers outpaced gainers as out of the 385 issues traded, 129 advanced, 195 declined, and 61 remained unchanged.
The port city bourse, CSE, however, settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have advanced by 45.8 points and 76.4 points respectively.
