Amid trading volatility, the turnover of the Dhaka Stock Exchange (DSE), the country’s premier bourse, again surpassed the Tk 1,000 crore-mark on Monday.
The DSE turnover stood at Tk 1,084 crore yesterday, which was the highest since June 6, and was 17.6 per cent higher than the tally of Tk 921 crore logged in the yesterday’s previous trading session.
Amid this turnover surge, the prime index of the DSE, however, witnessed a significant fallout as investors went for large-scale sales to harness short-term profits following the recent price appreciation of particular rumor-based scrips.
The DSEX, the benchmark index of the DSE, declined 13.6 points to settle at 6,325 against 6,339 points in the previous trading session.
Among other indices, the DSES index, the Shariah-based index, fell 3.62 points to 1,374. However, the DS30 Index, which represents the blue-chip companies, rose 2.03 points to 2,190.
The market remained upbeat in the first half of the trading session, but the later half witnessed severe volatility owing to a short-term profit-booking spree among investors on the recently rallied stocks, according to stockbrokers.
EBL Securities, a stockbroker, in its daily market review, said the market managed to remain afloat till the midsession, but subsequent dominant sale pressure led the core index to dip into negative territory while eroding the early-hour gains in particular trendy stocks.
The opportunistic investors, however, continued their chase towards specific stocks that recently broke out of their floor prices to seize opportunities for harnessing quick gains, it added.
Block trading rose significantly yesterday with a contribution of Tk 109 crore or 10.1 per cent of the total DSE turnover.
The food and allied sector topped the turnover chart with a contribution of 16.4 per cent of the daily DSE turnover, followed by fuel and power (12.8 per cent) and textile (12.3 per cent).
Fu Wang Food Ltd became the most traded stock with Tk 96 crore worth of its shares changing hands, followed by Associated Oxygen Limited, and Lub-rref (Bangladesh) Limited.
Most sectors, according to EBL Securities, displayed dismal returns, with the life insurance registering the highest correction of 2.1 per cent, followed by IT (2.0 per cent) and paper (1.0 per cent).
On the other hand, the travel secured the highest gain of 3.6 per cent, followed by cement (0.6 per cent).
As per the daily review of Brac EPL Stock Brokerage, most large-cap sectors posted negative performance, with the food and allied experiencing the highest loss of 0.27 per cent, followed by engineering (0.25 per cent), bank (0.20 per cent), fuel and power (0.11 per cent), NBFI (0.02 per cent), telecommunication (0.00 per cent), while the pharmaceutical posted a gain of 0.08 per cent.
Central Pharmaceuticals Limited rose 10 per cent to become the day’s top gainer, while Olympic Accessories Limited became the top sufferer by burning 9.2 per cent.
Out of the issues traded, 37 stocks advanced, 159 scrips declined, and 196 securities did not see any movement on the DSE trading floor.
The port city bourse, CSE, also settled on red terrain, with its two major indices – selected indices (CSCX) and the all-share price index (CASPI) – declining by 21.8 points and 28.1 points respectively.
