DSE turnover soars 26%

Turnover of the Dhaka Stock Exchange (DSE) yesterday rose by more than 26 per cent from the previous session to reach near Tk 1,000 crore thanks to increased investor participation amid a rising trend in the benchmark index.

The DSEX, the benchmark index of the premier bourse in Bangladesh, rose for the 10th consecutive day to edge up 7 points, or 0.12 per cent, from the previous day to close at 6,274 points.

However, the DS30, the blue-chip index, fell 0.20 per cent to 2,208 points while the DSES, the shariah-compliant index, increased 0.22 per cent to 1,362 points.

Of the traded securities, 79 advanced, 62 declined and 210 did not show any price movement.

Turnover, an important indicator of the market's liquidity, grew 26 per cent to Tk 967 crore from Tk 765 crore the previous day.

The stock market observed another bullish session and hit the highest turnover of the year as bargain hunters continued their buying spree amid increased participation, said International Leasing Securities in its daily market review.

The market opened on a flying note and the upbeat trend continued till the end, beating some profit booking sale pressures during the mid-session.

The cheerful investors put fresh bets on sector-specific issues expecting a positive rally ahead, it added.

Among the sectors, jute advanced 4.9 per cent, paper rose 2.6 per cent and IT grew 1 per cent whereas travel fell 3.8 per cent and services edged down 1.7 per cent.

The stock market observed another bullish session and hit the highest turnover of the year as bargain hunters continued the buying spree.

International Leasing Securities A brokerage firm

The investors' attention was mostly centred on the food (16.2 per cent), travel (13.1 per cent) and IT (12.6 per cent) sectors.

IT Consultants saw the highest gain with an 8.78 per cent rise followed by Jute Spinners with 8.74 per cent, Apex Foods with 8.73 per cent, Rahima Food Corporation with 8.66 per cent and Kohinoor Chemicals with 7.98 per cent.

Uttara Bank topped the list of losers by shedding more than 12.35 per cent. Meanwhile, Midland Bank, Aramit Cement, Gemini Sea Food, and Legacy Footwear suffered substantial losses as well.

Genex Infosys was the most-traded stock on the day with its shares worth Tk 45 crore being transacted.

Stocks of Unique Hotel, Bangladesh Shipping Corporations, Eastern Housing and Bashundhara Paper Mills also traded significantly.

The stocks on the Chittagong Stock Exchange also rose yesterday. The Caspi, the all-share price index of the port city bourse, rose by 14 points, or 0.08 per cent, to close at 18,466 points.

Of the issues traded, 44 rose, 45 retreated and 68 did not see any price movement.

Turnover at the port city bourse declined 17 per cent to Tk 7.95 crore.