DSE turnover falls 5% amid selling pressure

Indices at the Dhaka bourse continued their upward momentum for the sixth consecutive session yesterday (17 January) but the turnover still dropped by over 5%.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), ended on the green trajectory for the sixth straight day.

Yesterday, the DSEX index hit a six-month high at 6,346 points — up by 14.59 points from the previous trading session — which is the highest since 23 July last year.

The blue-chip index DS30 of DSE increased 9.05 points to 2,138 points.

Out of the traded scrips, prices of 71 increased, 95 declined and 187 remained unchanged.

EBL Securities in its daily market commentary said, "The benchmark index of the capital bourse sustained the positive momentum as optimistic investors kept on chasing the rallying scrips in anticipation of quick gains since the subdued market rebounded from the earlier gloomy phase owing to a gradual improvement of the challenges that were impeding the market's momentum."

Yesterday, the market started with a positive note, and the upward momentum continued till the mid-session. 

In the first-half of the trading session, DSEX increased by 27 points.

And even as sellers became active on selling shares during the rest half of the session, the DSEX ended the day by adding 13 points.

The turnover at the DSE decreased by 5.1% to Tk760 crore yesterday compared to the previous session. 

Intec Limited topped the gainers' chart with a gain of 9.72% to Tk28.2 for each share, followed by Beacon Pharmaceuticals, and Libra Infusion.

Confidence Cement performed worst on the day with a fall by 4.79% to Tk84.8 for each share, followed by Union Capital and Crystal Insurance.

The port city bourse Chittagong Stock Exchange's all share price index CASPI advanced by 44.2 points.