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News Desk

The Daily Star

Publication Date : 19-03-2013

Turnover on the Dhaka Stock Exchange (DSE) dropped to a two-month low yesterday, with Bangladesh's political situation casting gloom on investors’ sentiment.

Turnover declined 19.29 per cent to 1.38 billion taka (US$17.2 million) from the previous day. DSEX, the benchmark general index of DSE, closed at 3,862.70 points, after surging 16.89 points or 0.43 per cent.

“The day long strike called by the opposition parties may have had a negative impact on overall turnover,” stated LankaBangla Securities.
“Low valuation levels and earnings expectation driven movements created some ripples in the market, but overall movement was slow due to low participation,” said IDLC Investments in its regular market analysis.

“With apparent lingering political volatilities, investors’ reluctance toward fresh fund injection has become a primary reason for the absence of volume support in the market,” said the investment banker.

Of the 268 issues traded on DSE, 150 advanced, 91 declined and 27 remained unchanged.

A total of 46,000 trades were executed with 38.6 million shares and mutual fund units changing hands on the Dhaka bourse.

All major sectors gained except telecoms, which retraced 0.71 per cent.

The highest gainer was the banking sector, accelerating 1.19 per cent as Southeast Bank topped the gainer’s chart following its corporate declaration of 15 per cent cash dividend.

Power, non-bank financial institutions and pharmaceuticals gained 0.56 per cent, 0.12 per cent and 0.02 per cent. Summit Purbanchol Power Company featured in the most traded stocks chart with 1.7 million shares worth 121.1 million taka changing hands.

*US$1=79.9 taka