DSE turnover exceeds Tk 500cr after a month

Stocks in Bangladesh continued to rise for a second consecutive day yesterday while turnover at Dhaka Stock Exchange (DSE) exceeded Tk 500 crore after one month. 

The DSEX, the benchmark index of the DSE, rose 4 points, or 0.06 per cent, to 6,209.

The DS30, the blue-chip index, advanced 0.05 per cent to 2,198 while the DSES, the index that represents Shariah-based companies, increased 0.03 per cent to 1,357.

Turnover, an important indicator of the market, rose 15 per cent from that on the previous day to Tk 532 crore.

The stock market inched up and the turnover reached a four-week high as Beximco's sukuk turnover stood at Tk 49.98 crore, according to market insiders.

Bargain hunters showed interest in buying some oversold stocks at lucrative prices based on the regulator's assurance that the floor price and lending rate cap will prevail, said International Leasing Securities in its daily market review.

Among the sectors, travel rose 4.3 per cent and life insurance 1.2 per cent whereas jute dropped 1 per cent, general insurance 0.4 per cent and ceramic 0.3 per cent.

The investors' activities were mainly focused on the pharmaceuticals sector, accounting for 17.1 per cent of the day's total turnover, followed by miscellaneous (14.8 per cent) and IT (12.6 per cent).

Among the companies the witnessed trade, 40 advanced, 127 declined and 167 remained unchanged.

Pragati Life Insurance posted the highest appreciation, rising 7.48 per cent, followed by the Sea Pearl Cox's Bazar Beach Resort & Spa (5.40 per cent), JMI Hospital Requisite Manufacturing (4.93 per cent) and Popular Life Insurance and Bangladesh Shipping Corporation (over 3 per cent).

Kohinoor Chemical Company (Bangladesh) suffered the biggest fall, 11 per cent. Bangladesh Monospool Paper Manufacturing dropped 2.5 per cent while Monno Ceramic Industries and Orion Infusion also fell by more than 2 per cent.

Bangladesh Shipping Corporation was the most-traded stock on the day with shares worth Tk 41 crore changing hands. Bashundhara Paper Mills, Genex Infosys and JMI Hospital Requisite Manufacturing also saw significant transactions.

The Caspi, the all-share price index of Chittagong Stock Exchange, however, dropped 19 points, or 0.10 per cent, to end the day at 18,327.

Of the securities, 25 advanced, 48 declined, and 60 did not show any price movement.

Turnover remained almost the same at Tk 13.33 crore. It was Tk 13.30 crore in the previous session.