DSE turnover exceeds Tk 700cr after 2 months
Stocks continued to rise for a fourth consecutive session yesterday when the day's turnover at Dhaka Stock Exchange (DSE) went on to exceed Tk 700 crore after two months with an appetite arising among some investors for making purchases.
The DSEX, the benchmark index of the DSE, rose 35 points, or 0.57 per cent, to 6,250.
The DS30, the blue-chip index, advanced 0.41 per cent to 2,208 while the DSES, the index that represents Shariah-based companies, increased 0.51 per cent to 1,364.
Turnover, an important indicator of the market, soared 40 per cent from that on the previous session to Tk 711 crore.
Investors increased their participation in the market expecting a market-friendly monetary policy to be unveiled by the central bank, believes International Leasing Securities.
Investors increased their participation in the market expecting a market-friendly monetary policy to be unveiled by the central bank
Following the previous session's upward momentum, the market started off on an upbeat note that accelerated the upward movement till the closure, the brokerage firm said in its daily market review.
The stocks showcases interest at making purchases in all the major sectors such as services, insurance, miscellaneous and pharmaceuticals which has led the market to add 35 points in its benchmark index, it said.
Among the sectors, IT advanced 4.1 per cent, general insurance 4 per cent and services 2.5 per cent.
Investors' activities were mainly focused on the IT sector, which accounted for 19.1 per cent of the day's total turnover, followed by miscellaneous (13 per cent) and pharmaceuticals (12.4 per cent).
Among the companies to undergo trade, 110 advanced, 61 declined and 190 remained unchanged.
Sena Kalyan Insurance Company posted the highest appreciation, rising 9.96 per cent. BDCOM Online surged 9.8 per cent, Pragati Insurance advanced 9.7 per cent and Federal Insurance Company and Genex Infosys gained more than 8 per cent each.
Monno Ceramic Industries suffered the biggest fall, sliding down 2.1 per cent. Bata Shoe Company Bangladesh dropped 1.16 per cent and Pacific Denims and Eastern Lubricants also fell by more than 1 per cent.
Genex Infosys was the most-traded stock on the day with shares worth Tk 63 crore changing hands.
Bangladesh Shipping Corporation, Orion Pharma, Bashundhara Paper Mills and Intraco Refueling Station also saw significant transactions.
The Caspi, the all-share price index of Chittagong Stock Exchange (CSE), rose 78 points, or 0.4 per cent, to end the day at 18,431.
Of the securities, 51 advanced, 33 declined, and 83 did not show any price movement.
Turnover at the CSE almost tripled to Tk 15.62 crore from that on the previous session.