Turnover at the DSE decreased 16 percent to Tk510.7 crore today, from Tk609.1 crore in the previous session
Indices closed in the red zone today as investors took a cautious stance over coronavirus worries.
DSEX, the prime index of the Dhaka Stock Exchange, gave up 56 points – or 1.3 percent – to close the day at 4,410.
The Shariah-based DSES index also lost 14 points, or 1.4 percent, to settle at 1,024, while the blue-chip index DS30 lost 15 points, or one percent, to stand at 1,470.
At the Chittagong Stock Exchange, the benchmark index Caspi declined 175 points, or 1.3 percent, to close at 13,491.
The market exhibited early gains during the first hour of the trading session. However, this growth was short-lived and the market continued to lose points till the end of the session, showing declining trend in the intraday performance graphs of all the indices.
Investors showed lack of confidence on most of the large-cap stocks, except Grameenphone and Brac Bank, both gaining 0.5 percent, according to the Daily Market Review of UCB Capital Management Ltd.
The market reacted negatively today because of the bleak macroeconomic scenario, as investors feared the possibility of higher inflation in the near future due to supply chain disruption by the coronavirus outbreak, the review added.
Moreover, India restricted the export of 26 pharmaceutical ingredients and drugs to Bangladesh, including one of the most commonly consumed Paracetamol, over coronavirus concerns, the review further added. The pharmaceuticals sector, hence, witnessed a price correction of 0.9 percent.
According to the Daily Market Review of EBL Securities Ltd, Bangladesh is likely to face challenges in its international trade and development activities, since the global financial market has continued to decline, anticipating slower economic growth due to the pandemic.
All sectors witnessed price correction today – except jute exhibiting a price appreciation of 1.5 percent, telecom gaining 0.4 percent, and mutual funds gaining 0.1 percent in the sector return board.
The textile sector faced the highest price correction of 3 percent.
Among the other large-cap sectors, financial institutions witnessed a price slide of one percent, and banks shed 0.7 percent.
Turnover at the DSE decreased 16 percent to Tk510.7 crore today, from Tk609.1 crore in the previous session. On the other hand, turnover at the port city bourse went down 16 percent from Tk24.1 crore to Tk20.2 crore.
The pharmaceuticals sector contributed the most, 19.9 percent, to the total turnover value, followed by textile stocks adding 18.5 percent and the engineering sector adding 13.4 percent in the sector wise turnover distribution board.
Silva Pharmaceuticals Ltd topped the turnover chart with a turnover value of Tk13.3 crore, closing the day at Tk20.2 per share. The stock was followed by Orion Pharma Ltd with a turnover value of Tk11.3 crore, closing at Tk44 per share.
Hakkani Pulp and Paper Mills Ltd was the best performer in the gainers' table after advancing 9.9 percent and closing at Tk79.6 per share, said the DSE website.
ML Dyeing Ltd was the day's worst loser after shedding 9.5 percent and closing at Tk54 per share today.
Losers sharply outnumbered the gainers as out of the 356 issues traded, only 80 advanced, 243 declined, and 33 remained unchanged on the DSE trading floor.