DSE turnover hits 21-month low

The daily trade turnover of Dhaka Stock Exchange (DSE) witnessed a rapid fall hitting a record 21-month low as investors were reluctant to inject fresh funds into stocks amid lack of confidence for ongoing bearish market. Market analysts said the share market is passing through a critical time for last several months as investors had been suffering from continuous rapid price fall.

Besides, experts also said, poor macroeconomic indicators, dearth of quality stocks and liquidity crunch worsened the ongoing confidence crisis among investors. They said the share market has been going through the bad patch due to a drop in foreign investment, fear of instability of the market coupled with thin participation of institutional investors.

However, the daily turnover on the DSE reached Tk 2,394.53 million, 9.12 percent lower from previous day’s value of Tk 2,634.84 million, the lowest single-day transaction in 21 months since March 3, 2018, amounting Tk 2245.36 million. The prime index of DSE decreased almost 3.76 points or 0.08 percent to 4,390 points on the day, which was the lowest level of DSEX in 42 months since June 27, 2016.

Besides, the comprising blue chips index (DS30) went down by 9.12 points or 1.85 percent to 1,496 while the DSE Shariah Index (DSES) fell by 3.78 points or 0.38 percent to close at 985 points. The losers beat the gainers as out of 353 issues traded, 179 ended lower, 112 closed higher and 62 remained unchanged on the DSE floor.

Square Pharmaceuticals dominated the DSE floor and topped the turnover chart with 5,10,384 shares worth Tk 95 million changing hands. It was followed by KPCL (Tk 90.33 million), National Life Insurance (Tk 82 million), SINOBANGLA (Tk 68 million) and PARAMOUNT (Tk 58 million). Anlima Yarn Dyeing Ltd was the best performer, posting a gain of 9.19 percent to Tk 39.2 while Samata Leather Complex was the worst loser, losing 8.89 percent to Tk 155.60. Meanwhile, the port city bourse, the Chittagong Stock Exchange (CSE) also saw negative trend on Tuesday with its selective category index (CSCX) losing 7.87 points to 8,105 points.

Besides, CSE All Share Price Index (CASPI) also fell by 11 points to settle at 13,372 points on the day. At the CSE, total 230 issues were traded. Among them, 67 closed higher, 117 ended lower and 46 remained unchanged. However, the number of shares transacted on the floor of the CSE was 3.82 million and the total turnover in value was almost Tk 76 million.