Dhaka, Bangladesh (BBN)– The overall turnover dipped below three months’ low at Dhaka Stock Exchange (DSE) on Tuesday amid lack of institutional participation and a cautious approach by retail investors, market operators said.
They said the finance minister’s latest comment on stock market added extra fuel and deteriorated investors’ confidence further at the time when the market is suffering from confidence crisis.
The market opened with a negative note and lost 50 points within first two hours. However, it got support in the last two hours, as the bargain hunting helped the DGEN to recover all its earlier loss and finally ended 2.09 points higher.
The benchmark general index of Dhaka Stock Exchange (DGEN), the main gauge of the market, went up 2.09 points or 0.44 per cent to close at 4,691.29.
However, the broader All Shares Price Index (DSI) went down by 0.57 points or 0.01 per cent to 3,982.43. The DSE-20 Index comprising blue chips shares also lost 4.32 points or 0.12 per cent to close at 3,576.94.
“The investors adopted ‘wait-and-see’ policy and are waiting for the positive outcome of court issue and for political stability, refraining from fresh investment,” stated IDLC Investments in its analysis.
The participation was low and the turnover recorded another three months low after single session interval, it added.
The turnover value came down to BDT 1.28 billion, 17.7 percent lower compared to BDT 1.56 billion in the previous session, which was also the three month lowest since March 11. On March 11 it was recorded BDT 1.27 billion.
Out of 258 issues traded, 128 advanced, 112 declined and 18 remained unchanged.
A total of 29.55 million shares changed hands on the day against 34.57 million in the previous session. The trade deals also decreased to 41,760 against Monday’s 44,550.
The total market capitalization of the DSE stood at BDT 2,517.02 billion against BDT 2,517.98 billion in the previous session.
Among the major sectors non-banking financial institutions (NBFIs) gained the most 0.88 per cent followed by pharmaceuticals 0.76 percent.
Fuel and power sector lost 1.02 percent, while telecommunications and banks sectors lost 0.20 percent and 0.14 percent respectively.
Lafarge Surma Cement was the top turnover leader with shares worth BDT 72.32 million changed hands.
The other turnover leaders were Exim Bank, Grameenphone, Jamuna Oil, LankaBangla Finance, Aftab Automobiles, National Bank, MI Cement, Square Pharma and UCBL.
Glaxo SmithKline was the day’s highest gainer posting a rise of 7.20 percent followed by Hakkani Pulp and Paper, National Tea Company, Monno Jute Stafflers, National Life Insurance, Delta Spinning, ICB Third NRB Mutual Fund, Exim Bank, AIBL First MF and ICB.
Padma Oil and Sandhani Life Insurance featured in the top losers’ list following their price adjustment after record date.
The day’s other worst losers included, Prime Islami Life Insurance, Samorita Hospital, Imam Button, Eighth ICB, Fourth ICB, LR Global MF, First Bangladesh Shilpa Rin Sangstha MF and MBL First MF.
BBN/SSR/AD-13June12-10:10 am (BST)