DSE turnover scales Tk 10 billion mark after six months
DSE rebounded, CSE remains down
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The daily trade turnover on the Dhaka Stock Exchange (DSE) scaled the Tk 10 billion mark on Monday for the first time in six months, the second day after floor price removal.
Turnover, a crucial indicator of the market, stood at Tk 10.42 billion on the country’s premier bourse, climbing 77 per cent over the previous day’s mark of Tk 5.89 billion.
It was the biggest single-day transaction since July 7 last year, when the turnover totaled a record of Tk 10.44 billion.
Along with higher turnover, the prime index of the DSE also rebounded in positive terms a day after the withdrawal of the floor price. The DSEX rose 14.05 points to settle at 6254 after losing more than 96 points on the previous day following the lifting of the floor price.
Market experts said the buying appetite of institutional investors in blue-chip stocks helped the market recover despite some volatility in the market.
The recovery of the market index was mostly driven by the gains of blue-chip stocks as investors put money on fundamental stock company shares in anticipation of good returns, said a stockbroker.
“The market turnover increased as investors were injecting fresh funds into lucrative stocks in anticipation of a good return,” he added.
The DS30 Index, which consists of blue-chip companies, advanced nearly 10.46 points to 2,147, while the DSES index, which represents Shariah-based companies, rose 6.60 points to 1,380.
Small-cap stocks, however, continued to dominate the turnover list. BD Thai Aluminum became the most-traded stock, with shares worth Tk 328 million changing hands, closely followed by Associated Oxygen, Orion Infusion, LafargeHolcim and Karnaphuli Insurance.
Low-performing Dacca Dyeing was the day’s top gainer, soaring 10 per cent while BBS Cables was the worst loser, shedding 10 per cent.
Most of the traded shares saw price appreciation, as out of 392 issues traded, 207 advanced, 145 declined, and 40 remained unchanged.
The Chittagong Stock Exchange (CSE), however, closed lower, with its All Share Price Index (CASPI) shedding 94 points to settle at 18,283, while the Selective Categories Index (CSCX) lost 51 points to close at 1,0913.