Turnover crosses Tk 2,200cr led by pharma stocks

The value of traded shares or turnover continues to rise sharply as investors, both institutional and individuals, have been pouring their money into the stocks to make a quick profit from the speculative share market.

As a result, DSEX, the prime index of the Dhaka Stock Exchange (DSE), ended the session 74.46 points, or 1.15 percent higher to 6,545 on Wednesday. for the second consecutive day.

The Shariah-based DSES index added 23.39 points or 1.64 percent to 1,442, while the blue-chip index DS30 gained 47.11 points or 2.04 percent to 2,353.

Pharmaceuticals stocks led the market rally from the beginning and it continued till the end of the session on Wednesday. The sector accounted for over Tk 574 crore or 27 percent of total turnover on DSE, followed by miscellaneous and engineering stocks.

“Rising turnover shows the participation of investors has increased significantly,” said a merchant banker requesting not to be named.

He urged investors to be cautious about putting their money into risky stocks based on rumours.

Of the issues traded, 131 advanced, 155 declined, and 92 were unchanged on Wednesday.

Orion Pharma gained the highest 9.95 percent to Tk 117.1 a share followed by ACI Formulations 9.85 percent to Tk 191.6. After a gap of many days, Beximco pharma was also buoyant as its share price gained 7.80 percent to Tk 182.4.