The Financial Express

Dhaka stocks remain dull after Eid holidays

| Updated: May 07, 2022 09:51:55

Dhaka stocks remain dull after Eid holidays

Dhaka stocks ended marginally lower on Thursday with sluggish turnover, the first day after Eid holidays, as the cautious investors continued their sell-off amid lower than expected earnings of some companies.

The participation of investors was thin in the brokerage houses as most of the investors are yet to return to Dhaka after celebrating Eid in their village homes. However, many of them executed trade through mobile phones.

The stock markets remained closed for six days from April 29 to May 5 on the occasion of Eid-ul-Fitr, the biggest religious festival of the Muslims, including May Day and weekly holidays.

Following the last trading day before Eid holidays, the market opened lower and the downturn continued until the end of the session, eventually ending over 12 points lower.

DSEX, the key index of the Dhaka Stock Exchange, went down by 12.50 points or 0.18 per cent to settle at 6,643.

Two other indices also closed in the red. The DSE 30 Index, comprising blue chips, fell 7.19 points to finish at 2,453 and the DSE Shariah Index (DSES) lost 3.34 points to close at 1,443.

Turnover, the crucial indicator of the market, also plunged to Tk 4.68 billion on the country’s premier bourse, slumping by 46 per cent over the previous session’s mark of Tk 4.68 billion.

Market analysts said some investors remained cautious over the country’s macroeconomic situation on the account of global price instabilities and a rise in business cost.

A good number of listed companies disclosed quarterly earnings and year-end dividend declarations on Thursday.

Of the 380 issues traded, 187 declined, 142 advanced and 51 remained unchanged on the DSE trading floor.

Beximco was the most-traded stock with shares worth Tk 306 million changing hands, followed by JMI Hospital Requisite Manufacturing (Tk 265 million), Unique Hotel (Tk 253 million), IPDC Finance (Tk 247 million) and Bangladesh Shipping Corporation (Tk 181 million).

Shinepukur Ceramics was the top gainer, posting a 9.89 per cent gain while ONE Bank was the worst loser, losing 11.27 per cent following its corporate declaration.

However, the Chittagong Stock Exchange (CSE) edged up with the CSE All Share Price Index – CASPI –gaining 15 points to settle at 19,489 and the Selective Categories Index – CSCX – advancing 9.0 points to close at 11,693.

Of the issues traded, 109 advanced, 94 declined, and 30 issues remained unchanged on the CSE.

The port city’s bourse traded 5.21 million shares and mutual fund units with a turnover value worth Tk 148 million.

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