Turnover highest in one month

Turnover on the Dhaka Stock Exchange hit a one-month high yesterday, as a group of investors injected fresh funds into the market, while some took profits.
Seen as the most important indicator for the market, it advanced 48.80 percent to Tk 707 crore from the previous day.
The market witnessed a decline, breaking a six-day gaining streak, with its free float index, DSEX, closing the day at 4,082.67 points, after falling 1.24 points or 0.03 percent.
The upbeat vibe at the very beginning could not sustain due to investors' dive toward profit booking, IDLC Investments said in its daily market analysis.
A selling spree in some of the heavy-weight large cap scrips derailed the market near the end, the investment banker said.
“As DSEX surpassed and persisted over 4,000 points in last two sessions, an expectation improvement was observed among the investors.”
Alongside this, no major distortion on the political frontier made investors' confidence stronger, it added.
The high turnover indicated high sell pressure at the 4,100 points level, which is also a resistance area, LankaBangla Securities said in its analysis.
“Investors will be curious to see whether the market can close above this level in forthcoming trading sessions to get a sense of direction,” the stockbroker said.
A total of 1.32 lakh trades were executed with 11.33 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the 291 issues that traded on the DSE floor, 133 advanced, 132 declined and 24 remained unchanged.
Amid this mixed scene, food and allied sector gained 2.82 percent, non-bank financial institutions 2.63 percent and tannery 2.07 percent.
However, travel and leisure declined 2.40 percent, banks 0.68 percent and non life insurance 0.67 percent.
Bangladesh Submarine Cable Company featured in the most traded stock chart with 16.97 lakh shares worth Tk 53.32 crore changing hands.
JMI Syringes and Medical Devices was the day's highest gainer, posting a rise of 9.62 percent, while Navana CNG was the worst loser, slumping 13.77 percent.