DSE turnover hits eight-month low

The turnover at the Dhaka Stock Exchange hit an eight-month low yesterday as investors went on a selling spree amid rising fear of the emergence of Omicron, a new coronavirus variant.

Dhaka Stock Exchange's turnover dropped 38 per cent from the previous day when its benchmark index experienced a fall for the second consecutive day.

The DSEX, the benchmark index of DSE, lost 0.55 per cent yesterday before closing the day at 6,882.

The turnover hit Tk 696 crore, down from the previous day's Tk 1,148 crore.

It was the lowest since April 18 when the DSE's turnover was Tk 627 crore.

The prime bourse of Dhaka remained in red for the second day straight as the shaky investors continued their selling binge in the sector-specific stocks out of the panic created by the news of first two cases of new coronavirus variant Omicron in Bangladesh, said International Leasing Securities in its daily market review.

Investors' participation has reduced to a great extent due to the absence of clear market direction, it added. Among the sectors, paper and printing, general insurance and financial institutions sectors achieved price appreciation while jute, miscellaneous and ceramic sectors witnessed price correction.

The investors' activity was mostly centered on bank (16.9 per cent), pharmaceuticals (12.6 per cent) and financial institution (11.3 per cent) sectors.

At the DSE, 101 stocks advanced, 228 declined and 48 remained the same.

Aramit Cement topped the gainers' list that rose 18 per cent followed by Sena Kalyan Insurance, Rahim Textile, GSP Finance, and Eastern Lubricants.

GSP Finance became the most traded stock with shares worth Tk 48 crore changing hands followed by Beximco Ltd, One Bank, Saif Powertec, and Sena Kalyan Insurance.

Desh Garments shed the most that dropped 8 per cent followed by Amcl Pran, Northern Insurance, Bangas, and Anlima Yearn.

The Chittagong Stock Exchange also fell yesterday. The CASPI, the main index of the port city bourse, edged down 107 points, or 0.53 per cent, to 20,158.

Among traded 277 stocks, 83 rose, 160 fell and 34 remained unchanged.