DSE turnover rises 43% last week

Dhaka stock market has been witnessing an upward trend for the last few weeks riding on unusual price hikes of low-cap and underperforming stocks, no matter how bad the economic conditions are.

As a result, turnover soared by 43 percent on the Dhaka Stock Exchange (DSE) compared to the previous week.

The DSE had a turnover of Tk 10,110 crore last week, which was Tk 3,027 crore or 42.74 percent higher than the previous week.

The average turnover was Tk 2,022 crore per working day, up over Tk 605 crore from the previous week.

Also, the market capitalisation increased by more than Tk 2,617 crore to Tk 5,22,743 crore at the end of the last trading day of the last week.

Yet, shares and unit prices of most of the companies were lower. But indices increased a bit.

The benchmark index of DSE, DSEX was up over 49 points, or 0.75 percent, to 6,564 during the week.

Among other DSE indices, the shariah-based DSES increased by 7 points or 0.50 percent, and the blue-chip DS-30 rose by 19 points or 0.82 percent.

A total of 386 companies participated in the share and unit transactions on the DSE last week. Among the companies, the share price increased by only 86, declined by 166 and remained unchanged by 134.

Orion Pharma’s shares were the most traded on the DSE last week. During the week, the company’s turnover was Tk 1,240.47 crore, which was 12.27 percent of the total turnover.

Beximco Limited came in second place with a turnover of Tk 1,136.73 crore, followed by BSC, JHRML, LafargeHolcim, Unique Hotel, Eastern Housing, ACME Laboratories, Shinepukur Ceramics and SPCL.

Meanwhile, on the Chittagong Stock Exchange (CSE), the overall index CASPI increased by 204 points or 1.06 percent to 19,345 during the week and Tk 408.92 crore worth of stocks were traded.