DSE turnover hits seven-month low

Turnover at the Dhaka Stock Exchange (DSE) hit around seven-month low on Sunday as investors opted to 'go slow' ahead of unveiling national budget for the next fiscal year.

All the sectors, other than two, witnessed price correction contributing to fall in both the key indexes and turnover.

At the end of the session, the premier bourse featured a turnover of above Tk 3.63 billion, which was 30.63 per cent less than the turnover of the previous session.

Earlier on November 01 last year, the premier bourse witnessed a turnover of above Tk 3.76 billion due to investors' reduced participation in daily trading.

According to market insiders, the turnover hit Sunday around seven-month low as investors were assessing the possible budgetary supports for the capital market.

"Secondly, Sunday was the first Ramadan. That's why the turnover declined moderately on the premier bourse," said a merchant banker.

The DSE broad index DSEX Sunday lost 0.75 per cent or 40.95 points to close at 5372.86 points.

The shariah based index DSES declined 0.72 per cent or 9.17 points to close at 1251.39 points, while the blue chip index DS30 went down by 0.84 per cent or 16.89 points to close at 1994.47 points.

Among the major sectors, bank declined 0.8 per cent followed by engineering 0.8 per cent, financial institutions 0.6 per cent, pharmaceuticals & chemicals 0.5 per cent, telecommunication 0.5 per cent, fuel & power 0.4 per cent, travel & leisure 2.8 per cent and textile 0.2 per cent.