Economy

Stocks open week in the red amidst drop in turnover

DSE index rises riding on only 8% shares

Dhaka Stock Exchange witnessed a 13.96 percent decrease in turnover yesterday from that on the previous day of trade last week.

The turnover, an indicator of the volume of shares traded, came to stand at Tk 924 crore at the end of the day.

It was the lowest since January 31 of this year when the turnover amounted to Tk 979 crore.

The DSEX, the benchmark index of the premier bourse of the country, declined 53 points, or 0.83 percent, from that on the last day of trade before settling at 6,283.

Similarly, the DSES, which represents Shariah-compliant companies, dipped 13.38 points, or 0.96 percent, to close the day at 1,368.

On the other hand, the DS30 Index, an index comprising blue-chip stocks, plunged 27.77 points, or 1.28 percent, to close at 2,129.

Of the issues traded at the DSE, 107 closed higher, 256 ended lower and 29 remained unchanged.

Market movement was driven by negative changes in the market capitalisation of travel and leisure, paper and printing, and bank scrips amid positive changes in the market cap of telecommunication, life insurance, and jute scripts, said Rajesh Saha, chief executive officer of CAL Securities.

"Basically, I will mention two things about the recent situation of the share market. First one is investors have been on the sidelines after a short time profit gaining," he said.

"Secondly, when the Bangladesh Securities and Exchange Commission withdrew the floor price for all shares (except some specific companies), they gave suggestions and instructions to the big brokerages so that they do not engage in any aggressive selling," he said.

"Those put an impact on the market, I think," he said.

Crystal Insurance Company topped the gainers' list, soaring 9.96 percent, followed by Taufika Foods and Lovello Ice-cream with 9.95 percent and Central Insurance Company 9.92 percent.

AFC Agro Biotech, Sunlife Insurance Company and Anlimayarn Dyeing were also in the gainers' list with 9.89 percent, 9.88 percent and 8.04 percent respectively.

However, GBB Power lost the most, shedding 10 percent, followed by Khulna Printing & Packaging with 9.97 percent, Standard Ceramic Industries with 9.92 percent, Safko Spinnings Mills with 9.89 percent and Intech Ltd with 9.86 percent.

Aramit Cement, Yeakin Polymer and Alltex Industries were also in the losers' list with 9.83 percent, 9.73 percent, and 9.60 percent respectively.

The Chittagong Stock Exchange also fell with its all-share price index, Caspi, dropping 204 points, or 1.12 percent, to settle at 18,085.

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Stocks open week in the red amidst drop in turnover

DSE index rises riding on only 8% shares

Dhaka Stock Exchange witnessed a 13.96 percent decrease in turnover yesterday from that on the previous day of trade last week.

The turnover, an indicator of the volume of shares traded, came to stand at Tk 924 crore at the end of the day.

It was the lowest since January 31 of this year when the turnover amounted to Tk 979 crore.

The DSEX, the benchmark index of the premier bourse of the country, declined 53 points, or 0.83 percent, from that on the last day of trade before settling at 6,283.

Similarly, the DSES, which represents Shariah-compliant companies, dipped 13.38 points, or 0.96 percent, to close the day at 1,368.

On the other hand, the DS30 Index, an index comprising blue-chip stocks, plunged 27.77 points, or 1.28 percent, to close at 2,129.

Of the issues traded at the DSE, 107 closed higher, 256 ended lower and 29 remained unchanged.

Market movement was driven by negative changes in the market capitalisation of travel and leisure, paper and printing, and bank scrips amid positive changes in the market cap of telecommunication, life insurance, and jute scripts, said Rajesh Saha, chief executive officer of CAL Securities.

"Basically, I will mention two things about the recent situation of the share market. First one is investors have been on the sidelines after a short time profit gaining," he said.

"Secondly, when the Bangladesh Securities and Exchange Commission withdrew the floor price for all shares (except some specific companies), they gave suggestions and instructions to the big brokerages so that they do not engage in any aggressive selling," he said.

"Those put an impact on the market, I think," he said.

Crystal Insurance Company topped the gainers' list, soaring 9.96 percent, followed by Taufika Foods and Lovello Ice-cream with 9.95 percent and Central Insurance Company 9.92 percent.

AFC Agro Biotech, Sunlife Insurance Company and Anlimayarn Dyeing were also in the gainers' list with 9.89 percent, 9.88 percent and 8.04 percent respectively.

However, GBB Power lost the most, shedding 10 percent, followed by Khulna Printing & Packaging with 9.97 percent, Standard Ceramic Industries with 9.92 percent, Safko Spinnings Mills with 9.89 percent and Intech Ltd with 9.86 percent.

Aramit Cement, Yeakin Polymer and Alltex Industries were also in the losers' list with 9.83 percent, 9.73 percent, and 9.60 percent respectively.

The Chittagong Stock Exchange also fell with its all-share price index, Caspi, dropping 204 points, or 1.12 percent, to settle at 18,085.

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