- Dhaka Stock Exchange

Stock turnover hits four-month low

Dhaka-stock-exchangeTurnover on the Dhaka Stock Exchange fell 15.6 percent to a four-month low of Tk 264 crore yesterday from the previous day, as investors remained inactive to take fresh exposure amid a bearish trend.
DSEX, the benchmark general index of the DSE, ended the day at 4,772.55 points, after gaining 15.94 points or 0.33 percent.
The shariah index of the Dhaka bourse, DSES, fell 1.84 points or 0.17 percent to close at 1,106.86.
Combined with heightened volatility and low turnover, the closing session of the week ended flat, IDLC Investments said.
On November 20, Bangladesh Merchant Bankers Association (BMBA) sent a set of recommendations to the stockmarket regulator that include bringing clients having a margin loan above Tk 1 crore under Credit Information Bureau reporting.
The BMBA’s other proposals include a one-year extension on the timeframe to provision margin loans until December 2015, and steps to boost the capital base of merchant banks within three years.
The association’s such clarification also helped the market to stabilise, for now, IDLC also said.

The merchant bankers’ proposals came in the backdrop of their efforts to recover margin loans worth about Tk 15,000 crore given by the merchant banks and stockbrokers up to the market crash in January 2011.
Meanwhile, the bright economic future of Bangladesh is further enforced with ADB and Chevron’s signal of making huge investments in the coming days, the investment banker said.
LankaBangla Securities said the market ended the day on positive note, but turnover activity indicated that the investors were remaining cautious and observing market movement from the sideline.
Food and allied registered the highest gain across all sectors with 3.55 percent gain thanks to the heavy weight British American Tobacco that rose 4.8 percent.
Banks and pharma appreciated by 0.41 percent and 0.15 percent. Telecoms edged up slightly 0.05 percent.
Fuel and power fell by 0.74 percent while non-bank financial institutions marked 0.03 percent loss.
A total of 0.66 lakh trades were executed with 6.56 crore shares and mutual fund units changing hands on the Dhaka bourse.
Gainers took a strong lead over the losers by 162 to 105, while 35 remained unchanged on the DSE floor that traded 302 issues.
Keya Cosmetic featured in the most traded stocks chart with 41.43 lakh shares worth Tk 11 crore changing hands followed by Beximco, Square Pharma and Western Marine Shipyard.
Kohinoor Chemicals was the highest gainer of the day, as it posted a rise of 7.45 percent, while Khan Brothers PP Woven Bag Industries was the worst loser, slumping by 6.34 percent.

SOURCE: thedailystar

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