DSE turnover crosses Tk500cr mark after nine days

The Dhaka Stock Exchange (DSE), the country's premier bourse, turnover surpassed the Tk500 crore mark after nine days on Tuesday (16 April), as investor participation increased following a prolonged vacation.

At the end of the session, the turnover, a pivotal indicator in the capital market, value reached Tk540 crore, indicating a significant growth of 47% from the previous session, which had recorded a 3.5-month low.

However, the benchmark index of the DSE was pulled down for the second consecutive session by aggressive selling pressure, primarily attributed to economic uncertainty stemming from the ongoing geopolitical crisis between Iran and Israel.

On the day, the DSE key index DSEX fell by 4 points to close at 5,774, whereas the blue-chip index DS30 declined by 2 points to 2,012.

Among the traded scrips, 173 advanced, 169 declined and 55 remained unchanged.

The port city bourse Chittagong Stock Exchange (CSE) also settled on red terrain. The selected indices CSCX and all-share price index CASPI fell by 0.01 and 5 points to settle at 9,945 and 16,538 respectively.

The turnover at the CSE also surged by 13% to Tk9.88 crore against the previous session.

Market insiders have attributed the freefall in the stock market to the economic repercussions of the Ukraine-Russia war. In response to this, the stock market regulator had imposed floor prices on changing share prices to curb the downward spiral in July 2022. 

They voiced concerns over the potential impact on Bangladesh should the Iran-Israel conflict escalate.

EBL Securities said in its daily market review, the capital bourse of the country observed a volatile session since cautious investors remained wary of the market's momentum, while the core index managed to end on a flat note as investors remained active on both sides of the trading fence.

The overall market sentiment has yet to rebound due to a lack of significant catalysts to counter the prevailing pessimism pervading across the trading floor, it added.

Large-cap stocks including Square Pharma, Grameenphone, Eastern Bank and National Bank played a pivotal role in dragging down the DSE index, the EBL Securities report noted.

Most of the sectors displayed mixed returns, out of which paper, IT and telecom exerted the most corrections, while mutual funds, travel and ceramic exhibited slight positive returns.

Mutual funds dominated the top ten gainers chart, with eight funds securing positions on the table.

Central Insurance experienced the most significant decline on Tuesday, with its share price dropping by over 4%. It was closely followed by Premier Leasing, Global Heavy Chemical and Deshbandhu Polymer.