Update March 16, 2016

Dhaka 3-34 pm, 20-January, 2021

Turnover crosses Tk 4 billion-mark

Sumel Sarker


Turnover crosses Tk 4 billion-mark

16 March 2016, Nirapad News: Stocks posted marginal gain Tuesday, breaking two days losing streak with turnover crossing Tk 4.0 billion-mark on the premier bourse as optimistic investors put fresh fund on lucrative stocks. Market insiders said the resignation news of Bangladesh Bank (BB) governor might have ignited some hope and enthusiasm in the market. The BB Governor Atiur Rahman Tuesday submitted his resignation letter to Prime Minister over the heist of US$101 million from the central bank account with the New York Federal Reserve Bank by hackers last month. Meanwhile, a section of investors staged demonstration in front of the DSE building after the BB governor’s resignation news.

They also shouted slogans against Atiur Rahman and demanded his punishment for failure to protect the BB reserves. The market started amid rising enthusiasm, as key index of the prime bourse crossed the 4,500-mark in the mid-session. However, as the session progressed the upbeat tone slowed down amid surging volatility and DSEX finally closed marginally higher. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) settled at 4,475.89, advancing 8.28 points or 0.19 per cent. The two other indices also closed in green territory. The DS30 index, comprising blue chips saw a fractional gain of 0.86 point or 0.05 per cent to finish at 1,713.34. The DSE Shariah Index (DSES) rose 1.97 points or 0.18 per cent to close at 1,087.39. Turnover, an important indicator of the market, crossed Tk 4.0 billion after two weeks and the total turnover on DSE amounted to Tk 4.35 billion, which was 29 per cent higher than the previous day’s Tk 3.37 billion. MTB Capital, a merchant bank, said, “The premier bourse opened with normal mood, but resignation news of Bangladesh Bank (BB) governor ignited the hope and enthusiasm in the market and initially all the sectors got buoyancy”. The participation level was very optimistic in the mid-session with 32 points gain of DSEX, but touching 4,500-level started getting sale pressure as opportunists were busy in picking quick-profit, said the merchant bank.

Sheltech Brokerage, a stockbroker, said, “The market started with an optimistic note and created day’s high at 4,502, but couldn’t maintain the pace as investors started to book quick-profit”. Sheltech Brokerage noted that the day’s session was eventful as the governor of Bangladesh Bank (BB) is replaced which made the investors cautious. On the other hand, election in DSE took place to replace one director of DSE. International Leasing Securities, a stockbroker, said, “Buoyancy was exhibited from the beginning of the session, however, optimism slowed down in later due to quick profit booking selling pressure”. “Investors’ participation increased as optimism spurred,” said the stockbroker. The large-cap sectors showed mix performances. Fuel and power was the highest gainer with 0.38 per cent gain followed by engineering 0.36 per cent and NBFIs 0.35 per cent. Banks closed flat in green with 0.09 per cent gain. Food and allied posted the highest loss of 1.55 per cent. Telecommunication and pharmaceuticals also declined by 0.29 per cent and 0.27 per cent respectively. The gainers took a strong lead over the losers as out of 315 issues traded, 176 closed higher, 90 lower and 49 remained unchanged on the DSE trading floor.

LankaBangla Finance dominated the turnover chart with shares worth above Tk 263 million changing hands followed by AFC Agro Biotech, Orion Infusion, Aman Feed and Orion Pharma. Orion Infusion was the day’s best performer, posting a rise of 9.39 per cent while LankaBangla Finance was the worst loser, slumping by 10.74 per cent following its price adjustment after record date. The port city bourse Chittagong Stock Exchange (CSE) also returned to green with its Selective Categories Index, CSCX, gaining 12.17 points or 0.15 per cent to finish at 8,389.65 points. Gainers beat losers as 122 issues closed higher, 79 closed lower and 44 remained unchanged on the CSE. The port city bourse traded 10.84 million shares and mutual fund units worth Tk above 308 million in turnover.

Visitor's Comment: ( The authorities are in no condition responsible for any comments of the reader)