Lack of buyers slows down capital market

Though the Dhaka stock market ended Wednesday slightly positive breaking three days of losing streak, almost 50 percent of the companies were buyerless.

With this, the share prices of most of the companies that participated in the transaction on the day remained unchanged and turnover in terms of money also decreased.

Market insiders said that various manipulative groups had been playing for items in the capital market for the past few days. Now they have gone out of the market after looting the profits resulting in many companies’ shares remaining buyeless.

According to DSE data, at one point of trading on Wednesday, there were investors willing to sell shares of 168 companies but no buyers were found.

Companies in the textile sector have lost the most buyers. Out of 58 companies in this sector, 35 companies were without buyers.

Out of 54 insurance companies, 25 did not find buyers. Of the 36 listed mutual funds, 25 were buyerless.

Apart from this, 22 companies in the banking sector, 14 in the financial sector, 13 in the engineering sector, 9 in the pharma sector, 8 in the food sector, 4 in the miscellaneous sector, 3 in the cement and energy sector, 2 in the tannery and telecommunication sectors and 1 each in the ceramic, IT and paper sectors found no buyers.

At the end of the day, DSEX, the benchmark index of the Dhaka bourse increased by 7 points or 0.11 percent to 6,496.

Among other indices, the shariah-based DSES rose by 2.15 points or 0.15 percent and the blue-chip DS-30 was up by 6.71 points or 0.29 percent.

The DSE had a turnover of Tk 1,484 crore, which is Tk 10 crore less than the previous session.

On the day, shares of the 371 companies were traded, of which only 71 firms gained, 114 issues lost and 186 companies remained unchanged.

The miscellaneous sector has played a major role behind this rise in transactions. The total turnover in this sector was Tk 286.35 crore, which is 20.53 percent of the total turnover.

The pharmaceuticals and chemicals sector was at the second position with Tk 230.3 crore turnover, followed by engineering sector at Tk 140 crore.

Shares of Beximco Limited were the most-traded by value on the DSE as its shares worth Tk 156.87 crore were traded on the day.

Orion Pharma, which was the second most-traded stock, had a turnover of Tk 148.64 crore followed by Shinepukur Ceramics, Sonali Paper, Eastern Housing, JHRML, IPDC Finance, BSC, BBS and Intraco.

Meanwhile, the overall index CASPI of the Chittagong Stock Exchange (CSE) increased by 16 point to 19,180 and securities worth Tk 101.53 crore were traded on the day.