DSE turnover falls over 38%

The turnover at Dhaka Stock Exchange (DSE) plunged over 38 percent yesterday from that on the previous day of trade due to a poor performance of companies accounting for large amounts in market capitalisation.

Market capitalisation means the total market value of a company's outstanding shares of stock.

Turnover, meaning the total value of shares changing hands on a day, hit Tk 440 crore at the end of the day, whereas it was Tk 712 crore on the previous day.

Beach Hatchery topped the turnover list with a rise of 3.17 percent to reach Tk 19.7 crore, followed by Salvo Chemical Industry (4.55 percent), Alif Industries (4.32 percent) and Asiatic Laboratories (2.01 percent).

Block trades, meaning large, privately negotiated securities transactions, stood at Tk 37.4 crore, representing 8.5 percent of the day's overall market turnover.

Sector-wise, information technology, general insurance and travel and leisure closed in the positive while tannery, miscellaneous and telecom in the negative.

The pharmaceuticals sector dominated the turnover chart, accounting for 18.52 percent of the total daily market turnover.

In its daily market update, Shanta Securities said the market movement was driven by positive changes in the market capitalisation of travel and leisure, paper and printing, and general insurance scrips.

Meanwhile, there were negative changes in the market capitalisation of food and allied, financial institutions, and telecommunication issues.

The market closed in the green with most of the large-cap sectors posting a negative performance, according to the daily market update by BRAC EPL Stock Brokerage.

Telecommunication experienced the highest loss of 0.88 percent, followed by food and allied, non-bank financial institutions (NBFI), and pharmaceuticals with 0.81 percent, 0.69 percent and 0.55 percent respectively.

Fuel and power also logged a loss of 0.34 percent while banks 0.05 percent and engineering 0.46 percent, correspondingly.

The benchmark index of the country's premier bourse, the DSEX, rose 0.22 percent to close the day at 5,340.19.

Aftab Automobiles and Zahintex Industries were the top gainers, rising 10 percent.

The two were followed by Navan CNG, Continental Insurance, Central Insurance Company, Desh General Insurance Company, Rupali Insurance Company, Green Delta Insurance and Bengal Windsor Thermoplastics.

The Islamic Finance and Investment shed the most, losing 5.57 percent. There was no price limit on the trading of the shares of the company yesterday following its corporate declaration.

Bangladesh Industrial Finance Company, Pragati Life Insurance, Unilever Consumer Care, Aramit, Stylecraft, and Bangladesh Monospool Paper Manufacturing Company also suffered losses.

Chittagong Stock Exchange saw a similar trend as the CASPI, the premier index of the port city bourse, edged up 0.03 percent to settle at 15,072.08 points.

However, the DSES, the index that represents the Shariah-based companies, fell 0.19 percent to 1,177.74 while the DS30, the index that consists of the best blue-chip stocks, slipped 0.26 percent to 1,904.63.

Beximco Pharmaceuticals, Navana Pharmaceuticals, Orion Pharma, ADN Telecom, Uttara Bank, BRAC Bank and Malek Spinning Mills fared well among the large-cap companies.

Shares of the top-ranked large-cap companies like Square Pharmaceuticals, Renata, Grameenphone, BAT Bangladesh, Al-Arafah Bank, Olympic Industries, Linde Bangladesh, Kohinoor Chemicals and LafargeHolcim Bangladesh suffered losses.

Of the issues that changed hands on the DSE, 213 advanced, 125 declined and 56 did not see any fluctuation.