DSE turnover hits two-month high

Dhaka Stock Exchange is drawing some new investment with a consistent rise in its turnover that reached Tk 560 crore yesterday, a two-month high.

On Sunday, shares worth Tk 377 crore changed hands with the figure rising to Tk 444 crore the following day.

Market analysts said investors’ participation is increasing as many stocks have now turned lucrative after massive slide.

Many stock investors are rearranging their portfolio to keep some companies’ stocks in their possession seeing their higher earnings and comparatively lower price.

Most of the stock brokers have been incurring losses for many years due to low turnover in the market, said an insider.

Stock brokers mainly earn from the commission on the turnover of the market. Their concern mounted in the last few months when the average turnover dropped below the Tk 350-crore level.

The average daily turnover should cross at least Tk 600 crore to help stock brokers make some profit, he said.

The DSEX, the benchmark index of the DSE, rose 28.68 points, or 0.61 percent, to 4,722.30 yesterday.

However, DS 30, an index of the blue-chip stocks, dropped 1.39 points.

Of the traded issues, 184 advanced, 133 declined and 33 remained unchanged.

National Tubes dominated the turnover chart with a transaction of Tk 13.44 crore worth of shares, followed by City Bank, Kattali Textile, LankaBangla Finance, and Beacon Pharmaceuticals.

Saiham Textile was the day’s best performer with 9.94 percent gain, while Emerald Oil was the worst loser, shedding 8.63 percent.

Chattogram stocks also edged up with the bourse’s benchmark index, CSCX, increasing 32.94 points, or 0.38 percent, to finish the day at 8,696.97.

Gainers beat losers as 149 advanced, 87 declined while 31 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded shares and mutual funds worth Tk 20.95 crore.