DSE turnover exceeds Tk 2,100cr after 11 months

The turnover of the primary bourse of the country crossed Tk 2,100 crore on Sunday after almost 11 months, as investors are becoming more active with increased share buying amid renewed optimism.

At the end of the session, the turnover stood at Tk 2,105.14 crore on the Dhaka Stock Exchange (DSE). This is the highest turnover in 10 months 21 days or 216 working sessions. Earlier on October 7, 2021, the turnover was Tk 2,497.

At the end of Sunday’s trade, the key index and share prices of most of the companies also increased.

Regarding this positive market trend, a top merchant banker said the central bank’s market-friendly moves, like imposing floor price, are playing a lesser role in boosting the capital market.

Rather, he said, a fresh injection of funds is boosting the market. This fresh inflow of funds can be called “seasonal funds”.

This fund inflow is coming from businesses that are facing import restrictions imposed by the government to stabilise the country’s forex reserve. “Those businesses are diverting their investment in the capital market,” he added.

“The recent bull market should’ve come way earlier if the central bank’s moves had a stronger effect," he argued.

Due to the ongoing economic crisis, the fund has moved to the capital market as investment opportunities in many other sectors have decreased, he added.

On the day, trading in DSE began with the increase in the prices of shares and units of most companies. The key price index of DSE increased by more than 30 points as soon as the trading started.

The upward trend of the index started to increase as the trading time progressed. As a result, the DSEX increased by 86 points at one stage of the transaction.

However, then the selling pressure increased and this reduced the upward trend of the price index. Along with that, the list of price hikes was also short.

At the end of the day, DSEX, the benchmark index of DSE, increased over 46 points or 0.73 percent to settle the day at 6,401.

Among other indices, the shariah-based DSES fell by 0.20 points or 0.01 percent and the blue-chip DS-30 was up by 3.65 points or 0.16 percent.

The textile sector rose to the top position again in terms of transactions. The total turnover in this sector was Tk362.6 crore, which is 17.66 percent of the total turnover.

The pharmaceuticals and chemicals sector was at the second position with Tk 248.6 crore turnover, followed by engineering sector at Tk 233.76 crore.

Shares of the 382 companies were traded on the day, of which 219 firms gained, 102 issues lost and 61 companies remained unchanged.

Shares of Orion Pharma were the most-traded by value on the DSE as its shares worth Tk 114.03 crore were traded on the day.

Beximco Limited, which was the second most-traded stock, had a turnover of Tk 105.47 crore followed by Fortune Shoes, Malek Spinning, Delta Life, IPDC Finance, Eastern Housing, Makson Spinning, Coppertech and BSC.

Meanwhile, the overall index CASPI of the Chittagong Stock Exchange (CSE) increased over 180 points to 18,823 and securities worth Tk 58.27 crore were traded on the day.