Stock turnover continues to fall

The stock market's turnover continued to fall yesterday as investors adopted a wait-and-see policy in spite of the index making gains amidst half-yearly disclosures of listed companies.

The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), edged up 13 points, or 0.18 per cent, to 7,032.

Turnover, an important indicator of the market, went down 8 per cent to Tk 1,117 crore at the DSE. It has declined in the preceding four days from an initial Tk 1,735 crore.

Stock market investors are adopting a wait-and-see policy as they want to hear out companies of their half yearly performances, said a stock broker.

Investors will pour their money taking into consideration earnings of the companies, he said, adding that investors were already rearranging their portfolios.

At the DSE, 164 stocks advanced, 162 fell and 53 remained the same.

The BD Thai Food & Beverage continued to top the gainers' list for a second consecutive day, going up 10 per cent, followed by Square Textiles, Matin Spinning Mills, Union Insurance Company and Queen South Textile Mills.

Stocks of Beximco was traded the most, worth Tk 86 crore, followed by Bangladesh Shipping Corporation, Fortune Shoes, Square Textiles and British American Tobacco Bangladesh.

Prime Islami Life Insurance went down the most, by 5.47 per cent, followed by Desh Garments, Far Chemical Industries, Apex Foods and Bangladesh National Insurance Company.

Among the major sectors, non-bank financial institutions (NBFI), textile and cement closed in the positive while food and allied, life insurance and telecom faced corrections, according to UCB Stock Brokerage.

Chittagong Stock Exchange (CSE) also rose yesterday. The Caspi, the main index of the bourse of the port city, went up 83 points, or 0.42 per cent, to 20,635.

Among 295 stocks to undergo trade, 146 went up, 118 down and 31 remained unchanged.