DSE turnover drops to 11 month low
Stocks extended losses for the second consecutive session on Tuesday as investors continued to sell off their holdings for booking profits.
The daily turnover at the Dhaka Stock Exchange (DSE) declined 7% to Tk75.83 crore, the lowest since 13 April 2021.
On Tuesday, DSEX, the benchmark index of the DSE fell by 0.4% to settle at 6,694 points.
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Out of the 385 issues traded, 51 advanced, 286 declined, and 48 remained unchanged.
In its Tuesday's daily market commentary, EBL Securities said the capital market logged consecutive corrections while the equity indices dwindled to red terrain as investors engaged in selloffs to book profit.
"Due to the limited trading window during Ramadan, trading activities slowed down, and turnover has been at its lowest in the previous 11 months."
"Moreover, the liquidity crunch of the capital market might exacerbate further this month amid growing consumption in Ramadan and the upcoming spending spree centring Eid-ul-Fitr," according to the commentary.
On the sectoral front, the financial institution sector contributed the highest 13% to the day's turnover followed by the textile sector's 11.5% and the engineering sector's 10.8% contributions.
Jute, paper and general insurance faced the highest price corrections while cement, travel, and life insurance sectors bagged the highest returns.
The port city bourse, Chittagong Stock Exchange, also settled in the red terrain. CASPI declined by 54.2 points and settled at 19646, and turnover stood at Tk12.33 crore.
