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Stocks rebound with rising turnover value

FE Online Report | Published: August 06, 2019 17:17:52 | Updated: August 08, 2019 11:50:39


The daily trade turnover of Dhaka Stock Exchange (DSE) crossed Tk 5.0 billion-mark on Tuesday again as investors put fresh stakes on stocks amid post-Eid expectation.

Turnover, a crucial indicator of the market, stood at Tk 5.68 billion on the country’s premier bourse, climbing further by 19 per cent over previous day’s mark of Tk 4.77 billion.

It was the highest single-day turnover in nearly two months since June 13, when the turnover totalled a record Tk 5.72 billion.

Along with the rising turnover, DSEX, the prime index of the DSE also rebounded after a single-day break.

DSEX, the prime index of the DSE, went up by 26.92 points or 0.52 per cent to settle at 5,187.

Market analysts said the market rebounded as pre-Eid sale pressure eased as only two trading days are left before Eid vacation.

Trading and official activities on the bourses will remain closed for nine days from August 9 to August 17, including weekly holidays, on the occasion of Eid-ul-Azha, one of the biggest religious festivals of the Muslims.

A leading broker said some investors also reshuffled their portfolio from December closing stocks to June closing issues anticipating better dividend declaration ahead.

Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 9.76 points to finish at 1,836 and the DSES (Shariah) index rose 4.66 points to settle at 1,194.

A total number of 145,030 trades were executed in the day’s trading session with trading volume of 148.18 million shares and mutual fund units.

The market-cap of the DSE also rose to Tk 3,863 billion on Tuesday, from Tk 3,846 billion in the previous session.

The gainers took a modest lead over the losers as out of 354 issues traded, 173 closed higher, 136 ended lower and 45 issues remained unchanged on the DSE trading floor.

United Power topped the turnover chart with shares worth Tk 302 million changing hands.

The other turnover leaders were Monno Ceramic, Bangladesh Shipping Corporation, JMI Syringes and Indo-Bangla Pharma.

Khulna Power Company was the day’s best performer, posting a gain of 10 per cent while VFS Thread Dyeing was the day’s worst loser, slumping by 9.95 per cent.

The port city bourse, the Chittagong Stock Exchange, also ended higher lower with the CSE All Share Price Index – CASPI – gaining 85 points to settle at 15,873 while the Selective Categories Index – CSCX –rising 50 points to finish at 9,646.

Here too, the gainers beat losers as 143 issues ended higher, 92 closed lower and 31 remained unchanged.

The port city bourse traded 7.92 million shares and mutual fund units worth nearly Tk 254 million in turnover.

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