Turnover plunges to lowest this year

Turnover at the Dhaka Stock Exchange (DSE) plunged to its lowest level this year as investors remain cautious over the central bank's directive on the exposure limit of non-bank financial institutions (NBFIs).

However, the DSEX, the benchmark index of the DSE, bounced back after declining for three consecutive trading sessions as it rose 30 points, or 0.44 per cent, to close the day at 6,948.

Gainers outnumbered losers with 185 stocks advancing, 135 declining and 59 remaining unchanged.

Turnover dropped 2 per cent to Tk 887 crore, the lowest point in 2022.

This is because investors are following a wait and see approach over the central bank's directive on the NBFIs' capital market exposure limit, International Leasing Securities said in its daily market review.

On February 15, Bangladesh Bank specified the instruments where NBFIs' investment would be considered while calculating their stock market exposure, with a view to removing ambiguity.

Now, all listed shares, debentures, corporate bonds, mutual funds and other products at market prices will be considered as share market investment for the NBFIs.

Besides, the outstanding balance of loans given by non-banks to their subsidiaries, associated companies and even other companies directly or indirectly linked with the capital market as well as the finance given to any stock investment-related fund will be regarded as a stock market investment.

Of the sectors, paper and printing rose 3.5 per cent, food and allied went up 1.5 per cent and textile increased 1.6 per cent, whereas jute fell 1.8 per cent, real estate and services dropped 1.2 per cent, and IT sector was down 1 per cent.

The investors' attention was mainly concentrated on textile (16.3 per cent), miscellaneous (14.2 per cent) and engineering (13.6 per cent), the brokerage firm said.

Beximco Ltd saw the highest turnover with shares worth Tk 86 crore changing hands. Anwar Galvanizing, Orion Pharmaceuticals, and Bangladesh Shipping Corporation all witnessed a turnover of Tk 25 crore.

Crown Cement topped the gainers list as it was up 9.87 per cent. Dragon Sweater and Spinning gained 9.82 per cent, Tamijuddin Textiles advanced 8.72 per cent, C&A Textiles rose 6.45 per cent, and Sonali Paper edged up 6.07 per cent.

Queen South Textiles shed the most, slipping 8.86 per cent. Hakkani Pulp fell 4.68 per cent, First Prime Finance was down 3.93 per cent, Samata Leather dropped 3.89 per cent, and LafargeHolcim Bangladesh declined 3.89 per cent.

The Chittagong Stock Exchange (CSE) also rose as the Caspi, the main index of the bourse, edged up 82 points, or 0.40 per cent, to 20,313.

Of the 288 securities traded, 165 rose, 84 fell and 39 did not see any price swing.