Stocks turnover hits 2-month low

Turnover of the domestic stock market plunged to under Tk 600 crore for the first time in about two months as investors are shaky about pouring in their funds amid the recent economic uncertainty, according to analysts.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), remained flat at 6,324 by the end of yesterday's trading session.

However, turnover of the Dhaka bourse plunged to Tk 580 crore, down from Tk 702 crore the previous day. The stocks edged flat after a bumpy ride as most investors followed a cautious stance amid macroeconomic concerns, International Leasing Securities said in its daily market review.

The exchange rate recently reached a new high of Tk 94.35 per US dollar as the foreign reserves slipped below $40 billion for first time in two years.

"So, investors are reluctant to make fresh bets and besides, most of them are yet to return to Dhaka after celebrating Eid," it added.

At the DSE, 129 stocks advanced, 198 dropped and 55 remained the same.

Meghna Condensed Milk topped the gainers list, rising 9.96 per cent, while Bangladesh Autocars, Usmania Glass Sheet Factory, Gemini Sea Foods, and Information Services Network also advanced significantly.

NRB Commercial Bank shed the most, eroding 5.36 per cent, while Regent Textile Mills, Paramount Textiles, Evince Textile and Intraco Refueling Station were among the heavy losers as well.

Titas Gas Distribution and Transmission became the most traded stock with shares worth Tk 47 crore changing hands followed by Beximco Ltd, KDS Accessories, IPDC Finance, and JMI Hospital.

Meanwhile, stocks at the Chattogram bourse dropped yesterday while its turnover also fell.

The CASPI, the all share price index of the Chattogram Stock Exchange (CSE), dropped 19 points, or 0.10 per cent, to hit 18,595.

At the CSE, 71 stocks rose, 173 fell and 38 did not move by the end of the trading hour.

Turnover of the port city bourse stood at Tk 10 crore, down from Tk 22 crore the previous day.