DSE turnover hits new high at Tk239.54cr
Star Business Report
Turnover on the Dhaka Stock Exchange (DSE) yesterday reached a new high at Tk 239.54 crore amid a continued rally of share prices.The previous highest turnover was Tk 234.44 crore on June 26. The Securities and Exchange Commission (SEC) however has advised small investors to be more cautious, as the market regulator found prices of some shares overvalued. "The SEC is concerned with the present price level and prices of some shares seem overvalued," said SEC Chairman Faruq Ahmad Siddiqi talking to The Daily Star. "The small investors should be very careful in investing," he suggested. Market operators attributed the rally in share prices to the ongoing half yearly financial disclosures by the companies. They said the companies have already started disclosing their half yearly financial assessments, which encouraged the investors including institutional and foreign investors to become very active. The institutional investors account for 65 percent and foreign investors around 10 percent of the total turnover on the DSE yesterday, said DSE Chief Executive Officer Dr Salahuddin Ahmed Khan. He said from the recent trend it was witnessed that the investors' attention was only to a few shares whose prices are going up excessively. "But, there are more other shares with good fundamentals whose price-earning (PE) ratios are quite good and the investors should analyse the PE ratios before making investment," he said. Along with turnover, market capitalisation also stood at all time high at Tk 51,150 crore, surpassing the previous high of Tk 50,186 crore on Monday. The price indices also went up on the DSE. The benchmark DSE General Index shot by 49.44 points, or 2.19 percent, to close at 2298.85 points while the DSE All Share Price Index went up by 39.93 points, or 2.16 percent, to finish at 1883.86 points. UNB adds: Trading on Chittagong Stock Exchange (CSE) closed higher yesterday with the gainers dominating the losers. CSE All Share Price Index increased by 2.15 percent or 17.59 points to close at 5555.62 points. The CSE-30 Index also rose by 3.12 percent to close at 5261.24 points. A total of 109 issues were traded. Of them, 60 gained, 39 declined and 10 remained unchanged.
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