Dhaka, Thursday


28 March 2024


Business Insider Bangladesh

DSE turnover hits 5-day high, ILFSL sees mysterious rise

BI Report || BusinessInsider

Published: 17:43, 2 October 2022   Update: 17:52, 2 October 2022
DSE turnover hits 5-day high, ILFSL sees mysterious rise

Graphics: Business Insider Bangladesh

Turnover of the Dhaka Stock Exchange (DSE) rose to a five-day high of Tk 1,533 crore on Sunday, giving investors confidence that the turnover would not go down like on previous occasions.

Turnover or the value of the shares traded was Tk 1,810 crore on Sunday last, but it came down to Tk 1,216 crore on Thursday, a development that made many investors concerned as the bourse had behaved like this before.

On September 20, turnover on DSE increased by around 43 percent to Tk 2,832 crore, the highest since September 7, 2021, and since then it was declining.

DSEX, the benchmark index of the DSE, also rose 18 points, or 0.28 percent, to 6531 at the end of the session. But in midday trading, DSEX increased by over 40 points.

Other two indices - DS30, the index that consists of blue-chip stocks, increased by 3 points or 0.14 percent to 2,333, while the DSES, the shariah-based index, was up0.26 percent to 1,423.

Once again Orion Pharma was the top traded share with a turnover of Tk 121 crore, followed by Beximco Limited over Tk 100 crore, Eastern Housing (EHL) Tk 74 crore, MI Hospital Requisite Manufacturing nearly Tk 74 crore and Bangladesh Building Systems over Tk 57 crore.

Among the gainers, Metro Spinning and ILFSL (International Leasing and Financial Services Limited) rose 10 percent.

ILFSL’s share price rise raised the eyebrows of analysts as all its indicators are in negative territory and the company could not pay dividends to its shareholders after 2018.

ILFSL’s price gained 10 percent riding on reports that the company will re-launch operations of PK Halder-associated four companies, a move that ILFSL’s present board thinks would help them recover loans worth Tk 260 crore from the defaulter.

The price of Sea Pearl Beach Resort & Spa Limited, which increased from Tk 57 a share to Tk 121 in a month, lost over 7 percent on Sunday.

 

Nagad
Walton