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The Dhaka bourse yesterday witnessed the lowest turnover in the past 18 days despite its index having bounced back.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), edged up 14 points, or 0.19 per cent, to 7,205.
Turnover, an important indicator of the market, decreased around 13 per cent to Tk 1,765 crore, which was Tk 2,033 crore on the preceding day. On August 29, turnover had dropped to Tk 1,846 crore.
As the benchmark index of the Dhaka bourse is hovering at its highest point, many investors are waiting to see where it goes, said a stock broker.
The wait and see situation drowned the turnover of the market, he said.
FAR Chemical Industries Limited topped the gainers’ list, rising 10 per cent, followed by RN Spinning Mills Limited, Bangladesh National Insurance Company Limited, Eastern Insurance Company Limited and Khan Brothers PP Woven Bag Industries Limited.
Bangladesh Monospool Paper Manufacturing Company Limited shed the most, falling 8.73 per cent, followed by Paper Processing & Packaging Limited, First Janata Bank Mutual Fund, EBL First Mutual Fund and Dominage Steel Building Systems Limited.
As the stock market made handsome gains in the past few months, some profit booking tendency was expected, said a merchant banker.
As a result, the index is slowly making gains with undergoing some drops, he said, adding that the act of people availing profits boosts the depth of the stock market.
Cement, general insurance and textile sectors witnessed the highest price surges while life insurance and paper and printing edged down yesterday.
Investors’ activity was mostly centred on financial institutions, accounting for around 13.4 per cent of the turnover followed by textile and engineering sectors.
At the DSE, 174 stocks rose, 163 declined and 37 remained unchanged.
Stocks of Beximco Limited were traded the most, worth Tk 123 crore, followed by LafargeHolcim Bangladesh Limited, Rupali Insurance Company Limited, Beximco Pharmaceuticals Limited and Alif Industries Limited.
Chittagong Stock Exchange (CSE) also rose yesterday. The CASPI, the general index of the port city bourse, edged up 47 points, or 0.22 per cent, to 21,030.
Among 325 stocks to undergo trade, 156 advanced, 131 fell and 38 remained unchanged.
(TDS)
