Turnover crosses Tk 500cr

Turnover on Dhaka Stock Exchange crossed Tk 500 crore for the first time this year, riding on improved market sentiments.
Turnover, a major factor for investors, rose 14.44 percent to Tk 552 crore yesterday from the previous day.
DSEX, the benchmark general index of the premier bourse, finished the day at 4,304.97 points, surging 51.51 points, or 1.21 percent.
“Trading sessions ended with highest turnover in 2013 as investors rushed to take exposure in equities,” LankaBangla Securities said.
High turnover indicates increased participation of individual and institutional investors, according to the stockbroker.
The week ended higher, driven by the ongoing optimism, said IDLC Investments, another stockbroker.
The uptrend, which got its rhythm from last week, helped achieve investors' confidence despite political unrest, the investment banker said.
A total of 1.38 lakh trades were executed, with 14.21 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the 275 issues that traded on the DSE floor, 229 advanced, 29 declined and 17 remained unchanged.
All major sectors posted hefty gains. Power rose 1.83 percent as the biggest market mover followed by non-bank financial institutions 1.4 percent.
Pharmaceuticals and telecoms gained 1.05 percent and 0.82 percent respectively, while banks ended flat, went up by 0.17 percent.
United Airways was the most-traded stock of the day, with its turnover of 1.9 crore shares worth Tk 45.58 crore. RN Spinning Mills and Summit Purbanchol Power Company were the next popular stocks of the day.
Safko Spinning Mills was the biggest gainer of the day, as it rose 9.71 percent. Prime Finance First Mutual Fund was the worst loser, plunging by 4.40 percent.
CSCX, the selective categories index of Chittagong Stock Exchange, closed the day at 8,575.59 points, surging 111.85 points, or 1.32 percent.
The port city bourse traded 1.54 crore shares and mutual fund units, with a turnover of Tk 57.92 crore.