DSE index, turnover lowest in 3 months

Author Topic: DSE index, turnover lowest in 3 months  (Read 259 times)

Offline Shahnoor Rahman

  • Faculty
  • Sr. Member
  • *
  • Posts: 260
    • View Profile
DSE index, turnover lowest in 3 months
« on: March 28, 2019, 11:54:35 AM »

Thin participation of institutional investors brought down both the key index and turnover of the Dhaka Stock Exchange to three-month lows yesterday.

The DSEX, the benchmark index of the premier bourse, fell 27.58 points or 0.49 percent to 5,502.48.

Turnover, another important indicator of the market, dropped 8.39 percent to Tk 353.40 crore -- lowest in the last three and a half months. A liquidity pressure is holding back banks and financial institutions, industry insiders said.

The liquidity crisis is the only weakness in the economy to affect the stock market, according to officials of Bangladesh Securities and Exchange Commission.

Of the traded issues, 121 advanced, 165 declined and 61 closed unchanged on the premier bourse.

Among the major sectors, engineering advanced 0.6 percent while banks and non-bank financial institutions fell 0.9 percent and 1 percent respectively.

British American Tobacco Bangladesh Company (BATBC) dominated the turnover chart with over 58,000 shares worth Tk 26.70 crore changing hands, followed by Monno Ceramics, Square Pharmaceuticals, Singer Bangladesh, and Grameenphone.

Progressive Life Insurance was the day's best performer with a 9.57 percent gain while Vanguard AML BD Finance Mutual Fund One was the worst loser, shedding 6.57 percent.

Top three negative index contributors were BATBC, Square Pharmaceuticals and City Bank, according to data of IDLC Securities. Chattogram stocks also fell yesterday with the bourse's benchmark index, CSCX, declining 25.57 points or 0.24 percent to finish the day at 10,212.82.

Losers beat gainers as 104 declined, 82 advanced and 32 remained unchanged on the port city bourse, which traded 55.17 lakh shares and mutual fund units worth Tk 23.73 crore.
Star Business Report