DSE turnover lowest in two and a half months

The turnover of Dhaka Stock Exchange (DSE) yesterday amounted to a two and a half month low of Tk 296 crore as skittish investors dumped their holdings to avert price erosions in their portfolios.

The turnover, which is the total value of all the shares traded on the day, was 6.83 percent lower than that on the previous day's trading session.

The last time it was lower than this was on August 4, when the turnover amounted to Tk 208 crore.

The banking sector dominated the turnover chart, accounting for 22.86 percent of the total.

Block trades, which refers to high-volume transactions in securities that are privately negotiated and executed outside the open market, contributed another 6 percent.

Taufika Foods and Lovello Ice-cream emerged as the most traded share, with a turnover of Tk 18.9 crore.

As a result, the DSEX, the benchmark index of the country's premier bourse, edged down by 49.75 points, or 0.93 percent, from that on the day prior to close at 5,316, marking a fall for a third consecutive day.

Similarly, the DSES index, which represents Shariah-based companies, went down by 12.48 points, or 1.04 percent, to 1,182.

The DS30 index of blue-chip firms dropped by 15.75 points, or 0.80 percent, to 1,947.

At Chittagong Stock Exchange, the CASPI, the main index of the port city bourse, also slipped by 75.32 points, or 0.50 percent, to settle at 14,972.

Of the issues that changed hands at the DSE, prices of 53 rose, 300 decreased and the remaining 42 did not witness any price movement.

Sector-wise, jute, engineering and miscellaneous were the top three sectors to close in the positive, according to the daily market update by UCB Stock Brokerage.

Services and real estate, ceramics and general insurance became the top three sectors to close in the negative.

Most sectors that account for large amounts in market capitalisation, which refers to the value of a company's outstanding shares, posted a negative performance, BRAC EPL Stock Brokerage said in its daily market update.

Among the sectors, non-bank financial institutions (NBFIs) experienced the highest loss of 2.21 percent, followed by fuel and power (1.14 percent), pharmaceuticals (1.14 percent), banking (0.85 percent), and food and allied (0.52 percent).

However, gains were made by telecommunication (0.19 percent) and engineering (0.68 percent).

Companies like Grameenphone, Taufika Foods and Lovello Ice-cream, Square Pharmaceuticals, Bangladesh Steel Re-rolling Mills, Khan Brothers PP Woven Bag Industries, British American Tobacco Bangladesh, Libra Infusions, Sonali Aansh Industries, Prime Bank and Paramount Textile drew investors the most, according to LankaBangla Financial Portal.

But none of the companies showcased a double-digit growth in share prices.

Grameenphone, the country's leading mobile operator, rose 1.31 percent.

Shares of Islami Bank Bangladesh, Renata, BRAC Bank, Beacon Pharmaceuticals, Beximco Pharmaceuticals, Olympic Industries, LafargeHolcim Bangladesh, Shahjalal Islami Bank, Mercantile Bank and Heidelberg Cement suffered losses.

Among all the listed companies, Libra Infusions topped the gainers' list, growing by 7.50 percent.

Sonali Aansh Industries, Usmania Glass Sheet Factory, Renwick Jajneswar & Company (BD) and Dulamia Cotton Spinning Mills made gains as well.

GQ Ball Pen Industries, NRB Bank, Eastern Lubricants Blenders and Monno Agro & General Machinery were also on the gainers' chart.

However, Union Insurance Company shed the most, losing 9.85 percent.

Purabi General Insurance Company, Fortune Shoes, City Insurance, Bangladesh National Insurance Company, Miracle Industries and Bangladesh Industrial Financial Company suffered losses as well.