DSE turnover rises 18pc
Turnover on the Dhaka Stock Exchange (DSE) rose 17.73 percent to Tk 444 crore yesterday thanks to increased participation of institutional investors.
The turnover, a measure of stock liquidity, was Tk 377.19 crore the previous day.
Market analysts said some of the investors rearranged their portfolios considering potentials and risks to stocks.
With Grameenphone being ordered by the Supreme Court to pay Tk 2,000 crore within three months, its stocks were inevitably investors’ number one choice for sale, they said.
Meanwhile, investors also bought some good stocks, which eventually made it to the top of the turnover list.
A stock broker said prices of some good stocks went down significantly thanks to the continuous market slide in recent months, opening opportunities for investors awash with cash.
However, stock investors are suffering from a lack of confidence, revealed by a flurry of sell-offs whenever there was a slight rise in price of any stock.
So, the index remains flat, he added.
The DSEX, the DSE’s benchmark index, edged up 5.19 points, or 0.11 percent, to 4,693.62.
Of the traded issues, 153 advanced, 125 declined and 58 remained unchanged.
Dutch-Bangla Bank dominated the turnover chart with transactions worth Tk 12.02 crore, followed by Fortune Shoes, Asia Insurance, Purabi General Insurance, Beacon Pharmaceuticals, and Grameenphone.
Meghna Condensed Milk was the day’s best performer with 10 percent gain, while Fortune Shoes the worst shedding 9.80 percent.
Chattogram stocks went down with the bourse’s benchmark index, the CSCX, decreasing 1.90 points, or 0.02 percent, to finish the day at 8,664.03.
Gainers beat losers as 108 securities advanced, 80 declined while 42 finished unchanged on the Chittagong Stock Exchange.
The port city bourse traded shares and mutual fund units worth Tk 13.73 crore.
Comments