DSE back in green, turnover hits 7.5-month high

Following a day in the red, Dhaka stocks rebounded on Thursday with the turnover reaching over a seven-and-half-month high.

On the day, Tk 1,777.45 crore was traded on DSE, which was Tk 643.74 crore more than the previous working day.

Also, the turnover on the day was the highest in seven months and 14 days. Earlier, Tk 1,976.88 crore was traded on DSE on January 11 this year.

On the other hand, this traded amount reached the second highest position of this year.

Meanwhile, after six consecutive working days of rising, the capital market showed renewed strength on Thursday following a day’s blip the previous day.

Share prices of general and life insurance, engineering, fuel & power, financial institutions, pharmaceuticals and chemicals, food and allied sectors increased at the same time. The index jumped due to this effect.

At the end of the day, DSEX, the benchmark index of DSE, increased over 74 points or 1.18 percent to settle the day at 6,355.

Among other indices, the shariah-based DSES rose by 11 points or 0.79 percent and the blue-chip DS-30 was up by 23.66 points or 1.05 percent.

Market insiders said the bank and mutual fund stocks are showing slow movement even in this upward market.

If stocks of these two sectors had performed better, the market would’ve advanced much further, they opined.

They said that investors are now very independent due to various reasons, including floor price, calculation method of investment limit of banks and financial institutions in the purchase price of shares.

Furthermore, amid fears over the economy following the outbreak of the Ukraine war, the central bank’s shift to conservative policies is giving some encouragement to investors.

The textile sector rose to the top position again in terms of transactions. The total turnover in this sector was Tk 220.54 crore, which is 13.26 percent of the total turnover.

The pharmaceuticals and chemicals sector was at the second position with Tk 209.16 crore turnover, followed by financial institution sector at Tk 182.7 crore.

Shares of the 379 companies were traded on the day, of which 234 firms gained, 54 issues lost and 91 companies remained unchanged.

Shares of Orion Pharma were the most-traded by value on the DSE as its shares worth Tk 108.42 crore were traded on the day.

Fortune Shoes, which was the second most-traded stock, had a turnover of Tk 107.88 crore followed by Beximco Limited, IPDC Finance, Delta Life, LafargeHolcim, Eastern Housing, Summit Alliance Port, Malek Spinning and Makson Spinning.

Meanwhile, the overall index CASPI of the Chittagong Stock Exchange (CSE) increased over 139 points to 18,642 and securities worth Tk 36.20 crore were traded on the day.