Investors prefer observing market to trading
Turnover in Dhaka Stock Exchange (DSE), the country’s premier bourse, stood at 5-month low on Wednesday, as investors preferred remaining observing the market to trading.
It stood at Tk271 crore, 6% less than the previous session on Tuesday.
This amount was the lowest since May 15 of this year, when it was Tk256 crore.
Stocks ended marginally higher than the previous day. At the end of Wednesday's session, DSEX, the benchmark index of DSE, went up by 17.94 points or 0.38% to settle at 4,726, after losing 73 points in the last two sessions (Monday and Tuesday) amid investors’ shaky confidence.
The prime index of DSE lost 1,225 points from its highest hit of 5,950 points, since January 24 this year.
DSE's market capitalization has dropped by 15.51% in the last nine months of this year. Currently the market cap is Tk3,56,738 crore.
Apart from lack of confidence in the regulators, investors had been grappling with a number of issues including rising non-performing loans and liquidity shortage in the financial sector, market operators observed.
Market scenario on Wednesday
The daily market analysis of International Leasing Securities Ltd said some investors sustained buying interest, especially in textile, engineering, fuel and power, telecom and pharmaceutical sectors that contributed to the upswing in indices.
The engineering sector contributed 17.3% of the total turnover while insurance, banking and pharmaceuticals sectors contributed 12.1%, 10.9% and 10.8% respectively, showed the daily market analysis of UCB Capital Management Ltd.
Talking to Dhaka Tribune, market analyst and insiders said the investors mainly reshuffled their portfolio from December closing stocks to June closing stocks, anticipating better return in the year-end dividend declaration.
DSE Shariah based index DSES advanced 0.36% to end at 1,084.8 points, while blue-chip index, DS30 went down by -0.09% to close at 1,659.3 points.
Grameenphone secured the leadership position on the top turnover chart with a turnover of Tk16.9 crore with its share price closing at Tk322.7 per share. The stock was followed by National Tubes with Tk10.6 crore, Standard Ceramic Industries with Tk8.2 crore, Sonar Bangla Insurance with Tk7.5 crore and Monno Jute Stafflers with Tk7.2 crore.
Quasem Industries secured the highest gain of 12.4% during the session. The stock was followed by Al-Haj Textile Mills with 9.9%, Khan Brothers PP Woven Bag Industries with 8.9%, Kattali Textile with 8.3% and Fortune Shoes with 8.2%.
CAPM IBBL Islamic Mutual Fund turned out the worst loser with its price declining by -9%. The stock was followed by CAPM BDBL Mutual Fund 01 with -8.9%, SEML FBLSL Growth Fund with -7.5%, Progressive Life Insurance with -6.5% and National Tubes with -5.6%.
Among the traded issues 202 gained, 88 declined and 62 remained unchanged during the session in DSE.
The port city’s bourse, the Chittagong Stock Exchange (CSE), also edged higher with its All Shares Price Index CASPI—gaining 63 points to close at 14,384 and the Selective Categories Index - CSCX – advancing 38 points to finish at 8747.
Among the traded issues 140 gained, 64 declined and 38 remained unchanged in the port city’s bourse.