Turnover at the Dhaka Stock Exchange (DSE) yesterday sank to its four-week low to Tk223 crore as investors were reluctant to make fresh investments amid shaky confidence.
Meanwhile, the price index at the premier bourse ended with marginal fall, showing continuous downtrend that started last week.
“The market is still under selling pressure as investors prefer to stay on the sidelines and waiting to see whether the government changes the detrimental decisions taken in the proposed budget for FY 2014-15,” LankaBangla Securities stated in its regular market commentary.
Market is extremely cautious and warns against pinning much hope before the budget gets approved, said LankaBangla. Investors are waiting and watching out how things pan out after next week, it added.
“Opening session absorbed another beat with different phases of volatility. Since, investors lack further re-assessment across market level, sentiment turned worse,” said IDLC Investments’ market analysis.
While, market was upheld with the support of some specific scrips, especially Lafarge Surma Cement, Square Pharma and Bangladesh Submarine Cable, it said.
As the bourse showcased extended level of dullness, investors shunned fresh fund injection, which cast shadow on turnover.
Day’s turnover came down to Tk223 crore which was 16.3% less compared to previous session’s value of Tk266 crore.
DSEX, the benchmark index of the Dhaka Stock Exchange closed at 4,322 points, shedding 6 points or 0.14% amid volatile trading.
The DS30 of blue chips stocks declined 10 points or 0.58% to close at 1,594 points while the DSE Shariah Index (DSES) fell by 4 points or 0.42% to end at 989 points.
Out of 292 issues traded, 140 advanced, 114 declined and 38 remained unchanged at the DSE trading floor.
Among the major sectors, only two sector – Banks and, food and allied were the gainers posting 0.67% and 0.28% growth respectively.
Telecommunications, which represents the flagship stocks of Grameenphone, was the highest loser going down by 1.02%. Pharmaceuticals, NBFIs and, fuel and power went down by 0.80%, 0.35% and 0.11% respectively.
Lafarge Surma Cement was the most traded stocks for the fifth sessions with shares worth Tk34 crore.
Monno Stafflers was the day’s highest gainer, posting a rise of 8.69% while Asia Insurance was the worst loser, plunging by 13.63%.
