DSE turnover hits one-year high

The single-day trade turnover on the Dhaka Stock Exchange (DSE) recorded a one-year high Tuesday, as investors went for massive selloffs on the recently outperformed stocks in the overheated market.

Buoyant investors, however, also put fresh funds on selective large-cap stocks on the day.

The DSE turnover climbed to Tk2832.3 crore Tuesday, up 42.3 per cent versus the previous session’s figure of Tk1989.8 crore.

Earlier on September 7, 2021, the Dhaka bourse registered a daily turnover of Tk2866 crore.

The premier bourse, however, registered a decline in its indices, as the DSEX, the benchmark index of the DSE, inched down 4.2 points or 0.06 per cent to settle at 6,597.

Among two other junior indices, the DS30, the blue-chip index, went down 4.3 points or 0.18 per cent to 2,401 and the DSES, the Shariah-based index, fell 3 points or 0.20 per cent to close at 1,448.

Despite a buoyant start, the rallying market hit a clutch by the end of the session due to massive selloffs since the overheated market lured investors to liquidate their holdings, said EBL Securities, a stockbroker, in its daily market review.

The equity indices on the Dhaka bourse failed to uphold the upbeat momentum since an intense selling pressure in late-session wiped out the early gains, pushing the prime index to finish in red trajectory, while the market turnover reached a fresh one-year high, it added.

Considering the recent pressures on the macro-economic front, investors preferred to take a cautious stand, with projection of gloomy earnings future of the major companies, EBL Securities commented.

On the sectoral front, pharma and chemical posted the highest turnover of 26.3 per cent of the total figure, followed by miscellaneous (22 per cent) and engineering (8.9 per cent).

Almost all the sectors in the premier bourse, displayed mixed returns.

Of them, paper sector performed the best with a 2.8 per cent gain, followed by cement (2.5%) and financial institutions (0.9%) on the day, while services sector suffered the most, followed by IT, and ceramic.

Out of the 386 issues traded, 72 stocks advanced, 156 issues declined, and 158 scrips did not see any price movement on the DSE trading floor.

On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) closed higher Tuesday with the CSCX and the CASPI advancing by 35.1 points and 56.0 points respectively.

The Dhaka Stock Exchange recorded an all-time-high turnover of Tk3249 crore on December 5, 2010.