Bangladesh
4 months ago

Stock turnover exceeds Tk 17b-mark on buying spree

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The daily trade turnover on the Dhaka bourse, with turnover crossing Tk 17 billion mark for the first time after more than 16 months, as buoyant investors are putting fresh bets on selective large-cap stocks.

Turnover, a crucial indicator of the market, stood at Tk 17.30 billion on the country’s premier bourse, in a further climb by 5 per cent over the previous day’s tally of Tk 16.52 billion.

It happens to be the biggest single-day transaction since September 25, 2022, when the turnover recorded Tk 18.10 billion.

Attuned to the rising turnover value, DSEX, the benchmark index of the Dhaka Stock Exchange, went up by 6.44 points or 0.10 per cent to settle at a six-month high at 6,352. The DSEX recovered 273 points in the past eight consecutive sessions.

The recent growth in turnover and index -- the two most important indicators of the market -- in general suggests investors’ confidence in the market is getting back, market operators said.

The DSES index, which represents Shariah-based companies, rose more than 2 points to 1,387. However, the DS30 Index, which consists of blue-chip companies, shed more than 8 points to 2,135 due to major price falls of Renata, Brac Bank and Delta Life Insurance.

The majority of the stocks saw a price surge, as out of the 394 issues traded, 198 closed higher, 158 ended lower and 38 remained unchanged on the DSE trading floor.

Orion Pharma, which floor price was removed from Wednesday, became the most-traded stock with shares worth Tk 1.10 billion changing hands. It was followed by Orion Infusion, Khulna Printing, Olympic Accessories and BD Thai Aluminum.

Bangladesh Finance was the day’s top gainer, soaring 10 per cent, while Khulna Printing & Packaging was the worst loser, losing 8.95 per cent after an abnormal price surge in recent months.

The Chittagong Stock Exchange (CSE) also ended higher with its All Share Price Index (CASPI) rising 72 points to settle at 18,175 and the Selective Categories Index (CSCX) gaining 43 points to close at 10,879.

The port city bourse traded 9.87 million shares and mutual fund units with a turnover volume of Tk 292 million.

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