DSE trade value hits eight-month low

The daily share transaction in value on Dhaka Stock Exchange (DSE) hit eight-month low on Sunday as stock market extended the falling trend to eight straight sessions.

The trade value declined by 22.11 percent at the opening of the week as shares traded voluminously ended lower. The total turnover in value tallied at Taka 221.85 crore, the lowest in around eight months after March. The volume was also 27.25 percent down at 6.39 crore shares.

The low-level of activities caused further 9.36 points fall of the broader DSEX index that closed the session at 4424.20. The two selective indices - the blue-chip DS30 and the Shariah DSES - also finished the opening session of the week in red at 1686.39 and 1065.30 respectively.

The session began in upward trend as positive quarterly reports were coming through, but steep correction in share prices on mounting sale pressure faded out the liveliness.

Investors also maintained a watchful stand as they were expecting revision of public issue rules next week, which would ensure more transparency and accountability of companies and relevant organisations. Like most of the past sessions, the market remained for buyers when 116 securities gained against 147 declining issues.

The highly active cement, fuel and power and textile sectors were down though bank, food and allied, telecom and engineering sectors showed a marginal rise.

Atlas Bangladesh was the top advancing issue followed by Desh Garment, OAL, Emerald Oil and IPDC. The major losing securities were Sonali Ansh, Rahima Food, Standard Ceramic, FBFIF and MHSML.

Titas Gas was the volume leader, with BSRM Limited, Quasem Drycell, Olympic and Saif Power following the market heavyweight.

Chittagong Stock Exchange (CSE) opened the week in red on Sunday, with its major CSCX losing over 3.7 points to finish at 8228.52.

Out of the day`s 218 issues traded, only 82 gained and 106 incurred losses when over 57 lakh shares changed hands for Taka 16.68 crore.