Stocks back from two days of losing streak
DSEX edged up 10 points to reach 6,584, and DS30 increased 8 points to 2,440
Indices of both the country's stock exchanges are back to the green zone on Wednesday after two days of free falls due to concerns over the prevailing macroeconomic scenarios led by global price volatilities.
But the stock markets are still facing liquidity shortage as most investors are reluctant to further invest due to high inflation in the commodities market and fixation of a lower circuit breaker limit at 2%, said a top official of a leading brokerage firm.
He further said due to the lower circuit breaker, the Dhaka Stock Exchange (DSE) witnessed no buyers for more than 60 companies' shares.
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He also said the giant shares from the pharmaceuticals and bank sectors helped the index bounce back from the downfall.
Meanwhile, the key index DSEX of the DSE fell over 60 points in the early session, but it bounced back after the mid-session.
At the end of Wednesday's session, the DSEX edged up 10 points to reach 6,584, whereas the blue-chip index DS30 increased 8 points to 2,440.
Out of the 380 issues traded at the DSE, 130 advanced, 185 declined, and 65 remained unchanged.
Port city bourse Chittagong Stock Exchange's (CSE) all-share price index CASPI also rose by 0.09% or 17 points to 19,366.
The premier bourse observed a decrease in participation, while turnover has declined by 1% and stood at Tk529 crore.
EBL Securities Limited said in its daily market review, bourses are in the doldrums as nervous investors embarked on a selling binge in the absence of any major trigger to avoid further losses.
The review further said investors' fear loomed amid the global economic turmoil owing to commodities market volatility and price increases for essentials, resulting in a liquidity shortage in the capital market as most investors are hesitant to participate in the market at present stock prices.
On Wednesday, the miscellaneous sector contributed the highest turnover of 12% in the DSE, followed by the pharmaceuticals and engineering sectors.
Beximco Limited dominated the scrip-wise turnover board and contributed 10.2%, followed by Sonali Paper and IPDC Finance.
Investors received the highest return from the pharmaceutical sector, which was followed by engineering and bank, where the paper was the top loss-making sector at the DSE.
Takaful Insurance was at the top position in the loser list although it declared dividends for 2021. Its share price fell by 5% on that day, when newly listed company JMI Hospital secured the top position on the gainer list at the country's premier bourse.
