Turnover surges past Tk 1,100cr
Turnover on the Dhaka Stock Exchange (DSE) went past Tk 1,100 crore for the first time in nearly one and a half months yesterday as the regulator moved to revive the market.
The surge came a day after the Bangladesh Securities and Exchange Commission (BSEC) said the market would be vibrant and turnover would rise further as the intermediaries are going to invest more.
On Wednesday, the regulator met with the top officials of the brokerage houses, merchant banks, and asset management companies to discuss the recent market trends and find ways to increase the number of investors and raise the contribution of institutional investors.
After the meeting, a senior official of the commission said merchant bankers would invest around Tk 300 crore in the market in the month of Ramadan, while Tk 250 crore would be injected by stockbrokers.
As a result, turnover, an important indicator of the bourse, surged 39 per cent to Tk 1,116 crore yesterday, which was Tk 801 crore a day ago.
The DSEX, the benchmark index of the premier bourse of the country, was up 4 points, or 0.06 per cent, to 6,757 at the end of the day.
The losers took a modest lead over the gainers as out of 379 issues traded, 183 declined, 134 advanced, and 62 remained unchanged.
The market ended slightly higher as investors showed their interest in the cheaper stocks at the last moment of the trading session, said International Leasing Securities Ltd in its daily market review.
Turnover also increased though some of the investors were cautious fearing the price hike of necessary commodities ahead of Ramadan, it said.
At the end of the day, both the DS30, the blue-chip index, and the DSES, the Shariah-based index, gained 8.41 points and 4.18 points, respectively.
Among the sectors, the financial institution sector rose 1 per cent and the tannery sector increased 0.8 per cent, whereas the paper and printing sector dropped 1 per cent and the services and real estate sector fell 0.8 per cent.
The investors' attention was mainly concentrated on tannery (13.9 per cent), engineering (11.6 per cent) and, paper and printing (10.1 per cent) stocks.
JMI Hospital Requisite Manufacturing topped the gainers' list as it made its debut on the market, rising 10 per cent. Yeakin Polymer, IPDC Finance, Meghna Condensed Milk, and Taufika Foods and Lovello Ice-cream also saw major gains.
Runner Automobiles shed the most, dropping 1.93 per cent. Samata Leather, Dragon Sweater and Spinning, Provati Insurance, and Stylecraft were among the heavy losers.
The Chittagong Stock Exchange (CSE), however, dropped yesterday. The CASPI, the main index of the CSE, was down 26 points, or 0.13 per cent, to close the day at 19,748.
Of the 309 stocks traded, 98 rose, 169 fell, and 42 did not see any price movement.
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