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DSE daily turnover crosses Tk 13b-mark

Daily trade turnover on Dhaka Stock Exchange (DSE) crossed Tk 13-billion-mark Tuesday as investors continued to put fresh stakes on stocks amid optimism.

_76638Turnover, a crucial indicator of the market, stood at Tk 13.21 billion on the country’s premier bourse, climbing further by 4.50 per cent over previous day’s mark of Tk 12.64 billion.

It was also the biggest single-day transaction in the last five months since February 26, when the turnover total was also recorded Tk 13.93 billion.

Along with the increasing turnover value, DSEX, the prime index of the DSE, continued to hold its positive momentum, adding 3.58 points more to settle at a historical high of 5,831 points, since its inception on January 27, 2013.

The total market capitalisation of the DSE also rose to an all-time high of over Tk 3,893 billion on the day, surpassing the previous high of Tk 3,891 billion recorded on Monday.

Market insiders said investor enthusiasm sustained as local and foreign investors remained active in the market amid optimism, taking the market turnover above Tk 13 billion-mark.

“Declining interest rate on bank deposit, possible interest cut on saving instruments, revision of budget coupled with optimism of June closing year-end earnings and dividend declarations continued to prompt investors to inject fresh funds into stocks,” said an analyst.

However, he advised the investors to invest carefully in a rising market and should analyse the fundamentals of securities beforehand.

Bank sector emerged as turnover leader, grabbing 22 per cent of the day’s total turnover, followed by textile 14 per cent and pharmaceuticals 11 per cent.

Bank sector also posted the highest gain of 0.90 per cent, riding on the price appreciation of Islami Bank which gained 7.10 per cent alone followed by Eastern Bank with 3.90 per cent.

International Leasing Securities, a stockbroker, said, “Stocks closed almost flat as investors were active in both sides of the trading fence throughout the session”.

The stockbroker noted that the market opened higher, but risk-averse investors went for profit booking frenzy on the issues of financial institutions, textile and fuel & power sectors, sending the market into flat zone.

“Recent stable scenario of the market coupled with healthy turnover attracted the sideline investors to take fresh position in the market,” the stockbroker said.

IDLC Investment, a merchant bank, said, “The market passed a volatile session with broad index, DSEX, gaining 54 points within first hour of trading. However, sellers eventually took the charge opting for profit booking from the recent trail of gain, sending the market flat zone”.

Losers, however, took a strong lead over the gainers, as prices of 195 securities declined, 107 advanced and 29 remained unchanged out of the 331 issues that were traded on the DSE floor.

Beximco topped the DSE turnover chart with about 17.20 million shares of Tk 609 million changing hands, followed by Keya Cosmetics, Islami Bank, Agni Systems and City Bank.

Agni Systems was the day’s highest gainer, posting 7.30 per cent gain, while Bangas was the worst loser, losing 6.70 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also edged higher with its Selective Categories Index – CSCX – advancing nearly 36 points to settle at 10,952 points.

Losers beat gainers as 145 issues closed lower, 94 closed lower and 21 remained unchanged on the CSE.

The port city bourse traded 31.26 million shares and mutual fund units’ worth Tk 767 million in turnover.

Source: Financial Express

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