DSE turnover crosses Tk 900cr

Stocks in Bangladesh yesterday bounced back after experiencing a mild correction the day before while turnover of the country's premier bourse crossed Tk 900 crore for the first time in about two-and-a-half months.

The DSEX, the benchmark index of the Dhaka Stock Exchange, rose by 35 points, or 0.57 per cent, to end the session at 6,281 points.

Similarly, the DS30, which represents blue-chip stocks, advanced 0.63 per cent to 2,215 points while the DSES, an index comprised of shariah-compliant companies, edged up 0.68 per cent to 1,371 points.

Meanwhile, daily turnover, which refers to the total value of stocks traded during a session, increased by some 26 per cent to hit Tk 900.4 crore from Tk 713 crore previously.

Among the traded companies, 119 advanced, 68 declined and 186 remained unchanged.

Central Pharmaceuticals posted the highest appreciation of 9.91 per cent while Deshbandhu Polymer surged 9.52 per cent.

IFIL Islamic Mutual Fund-1 advanced 9.38 per cent while Bangladesh Building Systems and Yeakin Polymer gained more than 8 per cent each.

The investors' buoyancy was observed from the beginning of the session as they remained optimistic till the closure of the session, International Leasing Securities said in its daily market review.

Investors got back their confidence as news spread that the market regulator is encouraging them to increase the flow of funds in the market, it added.

All the sectors achieved price appreciations except jute, which dropped 0.35 per cent, while financial institutions fell 0.03 per cent.

On the other hand, services increased 3.1 per cent and cement surged 2.6 per cent.

Investor activity was mainly focused on the pharmaceuticals sector, which captured 14.9 per cent of the day's total turnover, followed by the IT (14.4 per cent) and miscellaneous (12.2 per cent) sectors.

IT Consultants suffered the steepest fall, sliding 2.16 per cent.

Monno Agro and General Machinery dropped 0.99 per cent while Libra Infusion and Renwick Jajneswar also fell by more than 0.98 per cent each.

Bangladesh Shipping Corporation was the most traded stock with shares worth Tk 59 crore changing hands. Genex Infosys, Orion Pharma, Bashundhara Paper Mills, and Sea Pearl Cox's Bazar Beach Resort and Spa also saw significant transactions.

The Caspi, the all-share price index of the Chittagong Stock Exchange (CSE), rose by 89 points, or 0.48 per cent, to end the day at 18,529 points.

Of the securities traded, 78 advanced, 37 declined, and 103 did not show any price movement.

Turnover at the CSE more than doubled to Tk 42 crore while it was Tk 17 crore the previous day.