DSE turnover falls to one-month low

The Dhaka Stock Exchange turnover on Sunday stood at Tk 594 crore, which is the lowest in a month.

EBL Securities said in their daily market watch reaction that equity indices observed a downward trend after two days of attempts to recover against dismal macroeconomic indicators in the country, while investors stayed on the sidelines ahead of possible contractionary monetary policy for FY2023.

Turnover on Sunday slumped by 13 percent from the previous day’s marks.

It was the lowest single-day transaction in one month since May 26, when the turnover totaled a record Tk 539 crore.

The rising demand for the US currency has led to a crunch in the liquidity of the money market. Beside, rising call money rate is one of the reasons for the selloff, since investors prefer to pull their money out of risky instruments like equities, said EBL Note.

At close, the DSEX dropped 26 points or 0.42 per cent to settle at 6,301, after gaining 16 points in the past two days.

Among other indices, the Shariah-based DSES index drop 4.06 points or 0.29 per cent to settle at 1,378 but the blue-chip comprising the DS30 index edged 11.99 points or 0.52 per cent downed at 2,286.

Fu-Wang Food was the most-traded stock with shares worth Tk 34 crore changing hands, closely followed by Anwar Galvanizing Tk 28 crore, Shinepukur Ceramics Tk 25 crore, Beximco Tk 19 croreand Salvo Chemicals Tk 13 crore. On the sectoral front, Textile (16.6 per cent) issues exerted the highest turnover followed by Pharma & Chemical (12 per cent) and Engineering (11.5 per cent) stocks.

Most of the sectors displayed dismal performance, out of which Paper (-1.5 per cent), General Insurance (-1.4 per cent), and Cement (-1.2 per cent) exerted the most negative returns while Jute (0.6 per cent), Telecom (0.3 per cent) and Food & Allied (0.2 per cent) generated some positive returns on the bourse Sunday.