The daily turnover at the Dhaka Stock Exchange (DSE) dropped by 40% on Thursday to Tk323.8 crore — second lowest in 2022 — compared to the previous trading session.
On 19 July this year, the turnover hit the year-lowest at Tk319 crore, and on 24 October, it stood at Tk335 crore due to a technical glitch that slashed its 260-minute trading session to 108 minutes.
Stockbrokers mainly blame the drastic fall in turnover on the poor quarterly earnings of listed firms and the floor price mechanism that is barely allowing any trades for 80% of the listed scrips.
EBL Securities said in its daily market commentary on Thursday, "The Dhaka bourse witnessed a significant decrease in participation as investor confidence weakened due to a gloomy macroeconomic outlook and poor financial performance of listed firms."
Amid Thursday's sluggish trading, the Dhaka bourse's benchmark index, DSEX, did however inch up 0.1% to 6,215. The blue-chip index DS30, and the Shariah index DSES, also rose 0.3% each.
On the day, 46 scrips in the DSE advanced, 28 declined, and 226 stayed the same.
According to the turnover distribution by sector, pharmaceuticals and chemicals contributed the highest to the daily turnover, 24.9%, followed by life insurance adding 17.6%, and the IT sector came in at 12.9%.
Services, IT, and the tannery sector, posted the highest gains of 2.2%, 1.1%, and 0.7% respectively.
On the other hand, jute and the travel industry faced the highest corrections of 1.3% and 0.6% respectively on Thursday.