Business Desk :
Turnover on Dhaka Stock Exchange (DSE) plunged to Tk 6.52 billion on Tuesday, hitting an eight-month low, as investors were reluctant to make fresh investments in the market.
The investors were struggling with a lack of confidence due to the deteriorating situation between the two regulators over some policy issues while concern over omicron added worries to the investors, market insiders said.
Turnover, the crucial indicator of the market, dropped 19 per cent to Tk 6.52 billion, compared to the previous day’s tally of Tk 8.07 billion.
It was the lowest single-day transaction in the last eight months since April 18, when turnover totalled Tk 6.02 billion.
“Investors followed a cautious stance ahead of year-closing while many of them were not interested in selling shares at low prices, which leads to low turnover,” according to a merchant banker.
However, DSEX, the prime index of the DSE, went up by 20.70 points or 0.30 per cent to close at 6,757, after losing more than 131 points in the past two consecutive sessions. Two other indices also edged higher. The DSE 30 Index, comprising blue chips, advanced 9.85 points to finish at 2,538 and the DSE Shariah Index (DSES) gained 3.88 points to close at 1,436.
Gainers took a modest lead over the losers, as out of 378 issues traded, 176 advanced, 147 declined and 55 remained unchanged on the DSE trading floor.
Beximco, which gained 2.11 per cent, was the most traded stock with shares worth Tk 1.02 billion changing hands, followed by ONE Bank (Tk 264 million), Eastern Lubricants (Tk 147 million), IFIC Bank (Tk 140 million) and GSP Finance (Tk 133 million).
The low-paid up companies’ share continued to surge as the stock market regulator has ordered 64 low-paid-up listed firms to increase their paid-up capital at least to Tk 300 million by June next year.
Low-cap Fine Foods was the day’s top gainer, gaining 9.91 per cent, followed by Sonali Aansh, Hakkani Pulp & Papers, BD Monospol Papers and National Tea Company. Hwa well Textile was the day’s worst losers, losing 7.34 per cent. The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI -gaining 84 points to settle at 19,680 and the Selective Categories Index – CSCX, rising 48 points to close at 11,826. Of the issues traded, 147 advanced, 106 declined and 49 remained unchanged on the CSE.
The port city’s bourse traded 13.35 million shares and mutual fund units with a turnover value of Tk 444 million.
