Home ›› 13 Feb 2023 ›› Stock
Extending the downward trend for the second trading session in a row, Dhaka stocks dipped on a massive scale Sunday, as investors were anticipating a gloomy market outlook in the coming days.
Most listed companies in their latest quarterly financial reports, displayed poor earnings which forced investors to rebalance their portfolios in the last few days, causing volatility in the market.
Moreover, a recent report published by a global research firm expressing concerns about the liquidity crisis in Bangladesh’s capital market dampened investor optimism to a large extent, causing a free fall in the market yesterday.
Global investment research firm Morgan Stanley Capital International (MSCI) in its recently published quarterly review mentioned little hope for Bangladesh’s capital market due to ‘the deterioration of liquidity’ in the market.
The DSEX, the benchmark index of the Dhaka Stock Exchange, the country’s premier bourse, dipped 27.15 points or 0.43 per cent to close at 6,256 yesterday.
Among other indices, the DS30, the blue-chip index, fell 10 points to 2,225, and the DSES, the Shariah-based index, dropped 5.9 points to 1,365.
Meanwhile, the capital bourse witnessed a big fall in investor participation, with the DSE turnover falling by 22.61 per cent to Tk 471 crore, against the tally of Tk 608 crore in the previous trading session.
The pharmaceutical sector topped the turnover chart with a contribution of 14.85 per cent to the total turnover of the prime bourse DSE.
The market kept wading through choppy trading in the past few sessions, as dismal financial performance of majority of listed companies was preventing investors to take a solid stand in equities, according to stockbrokers.
Moreover, a recent report published by a global research firm expressing concerns about the liquidity crisis in the Bangladesh capital market dampened further investor optimism, according to market analysts.
Out of the securities traded, 11 stocks advanced, 164 issues declined, and 146 scrips did not show any price movement on the DSE trading floor.
ICB AMCL Third NRB Mutual Fund topped the gainers’ list with an increase of 9.2 per cent, while Eastern Housing was the day’s worst sufferer by shedding more than 7.1 per cent yesterday.
Genex Infosys was the most-traded stock, with Tk 38 crore worth of shares changing hands.
Shinepukur Ceramics, Olympic Industries, Bangladesh Shipping Corporation, and Orion Infusion also saw significant turnover.
The equity indices of the Dhaka bourse started the week on a dismal note, extending their downward trend from the previous session, owing to dominant sell pressure from investors throughout the session in the face of an unclear view of the market momentum, said EBL Securities, a stockbroker, in its daily market review.
Furthermore, a recent report published by a global research firm expressing concerns about the
liquidity crisis in the Bangladesh capital market has hampered investors’ confidence, which was already low.
Besides, the global research firm’s report broke down investors’ confidence, forcing them to offload their holdings to protect their funds from the ailing market, it added.
Almost all the sectors displayed dismal returns in the Dhaka bourse yesterday, with the travel suffering the most with a loss of 4.0 per cent, followed by services (3.7 per cent) and IT (3.3 per cent).
The port city bourse, Chittagong Stock Exchange (CSE), also settled on red terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – declining by 34.5 points and 56.9 points respectively.
