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The Financial Express
Swasti Lankabangla Swasti Lankabangla

Stocks edge down amid growing virus tension

| Updated: June 18, 2020 19:10:08


Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks edged lower on Thursday, with turnover remaining below Tk 1.0 billion-mark, amid growing virus tension and dissatisfaction over the proposed budget.

DSEX, the key index of the Dhaka Stock Exchange, went down by 1.32 points or 0.03 per cent to close at 3,960 over the previous day.

The DSE core index is hovering between 3,950 and 3,970 points in the past 13 sessions as most of the sellers find almost no buyers amid growing tension over the Covid-19 pandemic and floor price limitation.

Market operators said the worsening Covid-19 situation has made the market nearly buyer-less in recent days as the outbreak is going to put a long-lasting impact on the country’s overall economy.

Turnover, one of important indicators of the market, remained below Tk 1.0 billion-mark for the eight straight sessions to Tk 696 million on Thursday, a 22 per cent higher than the previous day.

Most of the investors adopting cautious stance as the market became almost stagnant and witnessed a dearth of liquidity flow after imposition of floor price restriction, said a leading broker.

Most of the shares remained stuck at the trading floor. Of the issues traded, 197 remained unchanged while only 14 issues advanced and 18 declined on the DSE trading floor.

Two other indices also saw a fractional loss. The DS30 index, comprising blue chips, fell 0.28 point to finish at 1,325 and the DSE Shariah Index lost 0.16 point to close at 918.

A total of 10,148 trades were executed in the day’s trading session with a trading volume of 22.07 million shares and mutual fund units.

Beximco Pharma topped the turnover chart with shares worth Tk 65 million changing hands, followed by Linde Bangladesh, Exim Bank, Indo-Bangla Pharma and Bangladesh Submarine Cable Company.

Eastern Lubricants was the day’s best performer for the second straight day, posting a gain of 4.24 per cent while Shympur Sugar Mills was the worst loser, losing 6.61 per cent.

The Chittagong Stock Exchange also edged lower with its All Shares Price Index (CASPI)—losing 5.10 points to close at 11,254 and the Selective Categories Index - CSCX –shedding 3.30 points to finish at 6,818.

Of the issues traded, 10 gained, 16 declined and 62 remained unchanged on the CSE.

The port city bourse traded 913,542 shares and mutual fund units worth Tk14 million in turnovers.

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