DSE turnover falls below Tk200 crore mark

Date: 2023-01-01 20:00:09
DSE turnover falls below Tk200 crore mark
Dhaka Stock Exchange s (DSE) turnover fell below the Tk200 crore mark today due to lower participation of investors lacking confidence amid the economic uncertainty.At the end of the trading session on Monday (2 January), the total turnover of the DSE stood at Tk198.80 crore, which was Tk227.74 crore in the previous session.Earlier, in 2020, investors witnessed lower turnover caused by Covid-19 restrictions.A senior official of a brokerage firm said that the share price of more than 300 companies at DSE was at the floor price set by the stock market regulator. Because of this floor price, there is a buyer crisis in the market. Hence, daily trading fell to its lowest level in the last two and a half years.Bangladesh Securities and Exchange Commission (BSEC) lifted the floor price of 169 companies shares on 21 December in the face of market participants demands.However, the price of these shares cannot fall by more than 1% per day. The turnover of the DSE has dropped further.The official said, amid the current economic crisis, the regulator could not take any visible action to regain the confidence of the investors. Rather, brokerage firms are now in the red due to a drop in turnover.Investors confidence weakened due to the depressing macroeconomic outlook and dismal earnings projections of the listed companies, EBL Securities said in its weekly market analysis.Moreover, the regulator s decision to withdraw floor prices from certain issues put further strain on the ailing market, while the 1% lower circuit breaker has yet to attract investors participation at the current prices, as they preferred to take a wait-and-see approach amid the current scenario of the market, it added.Besides, on Monday, the key index DSEX of the DSE also fell by 12 points to close at 6,189 and the blue-chip index DS30 plunged 3 points to 2,191.Out of 239 companies shares being traded, only 25 stocks increased, where 137 declined and 167 unchanged.The newly listed firm Islami Commercial Insurance shares were the top gainer with over a 9% price hike on the day. The company s shares closed at Tk21.2 at the end of the session. Monno Ceramics shares performed the worse - losing almost 7.88% price.

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