DSE turnover hits seven-month low

23 February 2021


Business Desk :
The daily trade turnover on the prime bourse fell below Tk 5.0 billion-mark on Monday, hitting a seven-month low, as most investors were reluctant to make fresh investment in stocks.
Turnover, a crucial indicator of the market, stood at Tk 4.67 billion on the country's premier bourse, slumping by 33 per cent over the previous day's mark of Tk 6.94 billion. It was the lowest single-day transaction since July 29, last year, when the turnover totaled a record Tk 6.94 billion. Along with low turnover, DSEX, the prime index of the Dhaka Stock Exchange (DSE), also slumped 90.77 points or 1.65 per cent to settle at 5,385.
DSEX lost more than 159 points in the past four consecutive sessions.
Two other indices also ended lower. The DSE 30 Index comprising blue chips, lost 48.20 points to finish at 2,057 and the DSE Shariah Index (DSES) shed 20.45 points to close at 1,222.
Market analysts said the shaky investors continued their sell-offs in major stocks as a lack of positive triggers prevented investors from making fresh investment.
The market remained under pressure in the past few weeks along with sluggish turnover as investors stayed cautious amid ongoing dividend declaration by December-end companies, said a merchant banker.
He noted that pressure on margin loans adjustment to regulatory allowable limit, Bangladesh Bank's circular regarding dividend limit of banks coupled with price fall of large-cap stocks continued to put a negative impact on the market.
"Investors continued sell-offs on major sector stocks, putting pressure on the indices amid sluggish trading," he said. Robi's shares fell further by 6.36 per cent to close at Tk 36.80 on Monday as investors dumped its shares following 'no' dividend declaration for 2020. Robi was also the last week's top loser with 12.28 per cent loss.
The top negative index contributors were Grameenphone, Robi, British American Tobacco, Square Pharma, Beximco Pharma and Beximco, contributing roughly 83 points fall of DSEX jointly, according to data from amarstock.com, a stock market data analyst.
Beximco that lost more than 3.0 per cent - was the most traded stock with shares worth over Tk 1.05 billion changing hands followed by Robi, BATBC, LankaBangla Finance and Beximco Pharma.
Al-Ha Textile was the day's best performer, posting a gain of 10 per cent while Prime Finance First Mutual Fund was the worst loser, losing 6.50 per cent.
A total number of 103,794 trades were executed in the day's trading session with a trading volume of 115.29 million shares and mutual fund units.

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