Dhaka Stock Exchange logo COURTESY
Stocks plunged and daily trade turnover on the prime bourse fell below Tk 5.0 billion-mark, hitting a seven-month low, as most investors were reluctant to make fresh investment in stocks amid persistently lackluster trade.
Turnover, a crucial indicator of the market,, stood at Tk 4.67 billion, slumping by 33 per cent over the previous day’s mark of Tk 6.94 billion. It was the lowest single-day transaction since July 29, last year, when the turnover totaled a record Tk 6.94 billion. Following the previous week’s downward trend, the Dhaka Stock Exchange and the Chittagong Stock Exchange opened lower with low turnover.
Within the first hour into trade, DSEX plunged about 55 points while the CSE All Share Price Index (CASPI) of port city’s bourse lost 125 points at 11:00. DSEX, the prime index of the DSE, went down by 90.77 points or 1.65 per cent to stand 5385.21 points.
Two other indices also saw negative trends. The DS30 index, comprising blue chips fell 48.20 points to reach at 2057.36 and the Shariah Index (DSES) lost 20.45 points to stand 1222.03 points. Market analysts said the shaky investors continued their sell-offs in major stocks as a lack of positive triggers prevented investors from making the fresh investment.
The market remained under pressure in the past few weeks along with sluggish turnover as investors stayed cautious amid ongoing dividend declaration by December-end companies, said a merchant banker. Of the issues traded, 219 declined, 23 advanced and 101 remained unchanged.
Beximco - the flagship company of Beximco Group- was the most traded stock shares worth Tk 1,059 million changing hands, followed by Robi, BATBC, LankaBangla, and Beximco Pharma. Robi’s shares fell further by 6.36 per cent to close at Tk 36.80 on Monday as investors dumped its shares following ‘no’ dividend declaration for 2020. Robi was also the last week’s top loser with 12.28 per cent loss. The top negative index contributors were Grameenphone, Robi, British American Tobacco, Square Pharma, Beximco Pharma and Beximco, contributing roughly 83 points fall of DSEX jointly, according to data from amarstock.com, a stock market data analyst.
Beximco that lost more than 3.0 per cent - was the most traded stock with shares worth over Tk 1.05 billion changing hands followed by Robi, BATBC, LankaBangla Finance and Beximco Pharma. Al-Ha Textile was the day’s best performer, posting a gain of 10 per cent while Prime Finance First Mutual Fund was the worst loser, losing 6.50 per cent.
A total number of 103,794 trades were executed in the day’s trading session with a trading volume of 115.29 million shares and mutual fund units. The port city bourse – the Chittagong Stock Exchange – saw a negative note with CSE All Share Price Index- CASPI- losing 256 points to stand at 15564 and the Selective Categories Index – CSCX losing 155 points to close at 9,389. Of the issues traded till then, 26 gained, 122 declined, and 38 issues remained unchanged. The port city’s bourse traded 6.86 million shares and mutual fund units with turnover value of Tk 414.15 million.