Market capitalisation slips despite over Tk 10 billion turnover on DSE

Pharma and chemical shares drive turnover but market capitalisation falls by nearly Tk 50 billion

The Dhaka Stock Exchange (DSE) turnover has crossed Tk 10 billion as Tk 2 billion worth of shares from pharmaceutical and chemical companies changed hands.

Despite the surge, the benchmark index and overall market capitalisation fell.

The DSE’s market cap dropped by Tk 49.88 billion compared to the previous day, settling at Tk 7.11 trillion, down from Tk 7.16 trillion. The fall came after four straight days of gains totalling Tk 77.05 billion.

Trading began with an upward trend, but by 11am the index had slipped 13 points to 5,406. Buying interest lifted it again to 5,434 around 12:45pm, adding 26 points from the previous day.

However, late selling pressure erased those gains and the DSE closed 9 points lower at 5,410, against Monday’s 5,419.

Turnover stood at Tk 10.37 billion, up from Tk 9.76 billion the previous day, and above the Tk 10 billion mark for the first time since Aug 3, when turnover had hit Tk 11.37 billion and Tk 10.63 billion on consecutive days.

Of the 400 companies traded, prices rose for 164, fell for 164, and remained unchanged for 72.

Small-cap and controversial firms dominated the day’s gainers, with Beach Hatchery, Information Services Network, Alif Industries, Munnu Fabrics, Hakkani Pulp and Paper, and Sonargaon Textiles among the top performers.

Meghna Cement, Beach Hatchery and ISN topped the list of gainers by closing price, while Exim Bank, CAPM BDBL Mutual Fund-1, and Prime Bank First ICB AMCL Mutual Fund suffered the steepest losses.

By sector, pharmaceuticals and chemicals led with Tk 2.07 billion in turnover, followed by textiles with Tk 1.37 billion and banks with Tk 1.04 billion.