Liquidity crisis deepens amid stock surge

Snapping the session of nosedive, Dhaka stocks returned to the green territory on Thursday after bargain hunters took fresh bets on selected issues following the market correction.

The liquidity crisis, however, continued to intensify, with the turnover of the Dhaka Stock Exchange (DSE), the premier bourse, declining by 12.6 per cent to Tk 286 crore against the tally of Tk 328 crore in the previous trading session.

The DSEX, the broad index of the DSE, gained 8.7 points to settle at 6215 against 6206 in the previous trading session.

Among other indices, the DS30, the blue-chip index, added 2.58 points or 0.11 per cent to close at 2,218, and the DSES, the Shariah-based index, rose 0.75 points or 0.05 per cent to 1,353.

Investors preferred to hold their positions for short-term instead of long-term investments due to having shaky confidence from an unclear indication regarding the market momentum, said EBL Securities, a stockbroker, in its daily market review.

The travel sector topped the turnover chart with a contribution of 18.2 per cent to the total turnover of the DSE, followed by the food and allied (14.5 per cent) and IT (9.5 per cent).

Most sectors witnessed positive returns on the DSE trading floor, with the travel sector posting the highest gain of 3.3 per cent, followed by services (2.4 per cent), and jute (1.3 per cent).

Legacy Footwear Ltd topped the gainer chart with a return of 9.9 per cent, while Bengal Windsor Thermoplastics Ltd was the day’s worst sufferer with a fall of 1.7 per cent.