Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The key index on the Dhaka Stock Exchange (DSE) has surged, with trade volume soaring close to Tk 6.0 billion after nearly a month.
The last time the country’s premier bourse saw turnovers in excess of Tk 5.0 billion was on Apr 10, when it registered Tk 5.4 billion in trades.
Trading started on a positive note on Monday morning with volume rising along with the index.
Although the market went into correction in the final hours of the day, the benchmark index DSEX closed by adding 8 points to where it stood on Sunday, at 4,964.
The trade volume rose significantly as shares worth Tk 5.84 billion changed hands compared with Sunday’s Tk 3.99 billion.
The DSE sustained an overall negative trend through March with trade volume falling from Tk 5.0 billion to Tk 4.0 billion, mostly trading around the lower threshold.
On Apr 10, turnover spiralled downward to around Tk 3.0 billion, plummeting to Tk 2.91 billion on Apr 29 for the second-lowest trade over the past five months.
The index continued a declining trend, sometimes climbing into a mixed trend but it was short-lived.
This brought about a fall in the share prices of small to medium-sized companies as well as multinational and fundamental companies as investors kept losing capital.
Investors in banks, pharmaceuticals and chemicals, and fuel and power sectors, which are usually at the top of DSE trades, then cut down on trading.
Despite this, a small number of investors in the insurance, banking, pharmaceuticals and chemicals, and textile sectors drew profits, but it had little impact on DSE’s overall index.
Investors in mutual funds and textile sectors drew the highest gains in DSE trading on Monday.
According to DSE data, with share prices for most companies trending up, 173 of the 400 listed companies and funds rose in prices, 169 dropped, while 58 remained at the previous price.
Banking, food and allied, and power and electricity sectors drove the market’s trade recovery.
Based on closing prices, Bashundhara Paper Mill, Baraka Power and SEML PBSL Growth Fund topped the list of gainers, while Khulna Power Company, Renwick Jajneswar and Energypac Power Generation were the biggest losers.