DSE turnover highest in a month

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FE Report
Dhaka stocks finished in the black for the fourth straight session Sunday with the turnover crossing the Tk 7.0 billion mark for the first time in a month.
The benchmark index of Dhaka Stock Exchange (DSE), DSE General Index (DGEN), added 19.11 points or 0.64 per cent to finish at 2974.74, trimming early gains of 28 points.
The broader DSE All Shares Price Index (DSI) closed at 2493.34 with a gain of 17.96 points or 0.72 per cent. The DSE-20 blue chip index inched lower by 2.30 points or 0.10 per cent to end at 2212.72.
The market moved into the green zone not only fundamentally but also in terms of speculative investments as the investors remained unsure over the market direction, analysts said.
Banks and energy sectors lost slightly while non-banking financial institutions (NBFIs), insurance and pharma sectors gained. Most of the mutual funds lost on profit taking. The textile sector witnessed some unusual gains while other sectors notched up higher.
The gainers took a strong lead over the losers as out of 239 issues traded, 159 went up, 77 declined and three remained unchanged.
'The companies with weak fundamentals sent the market into the positive territory on the day," said Equity Partners Limited (EPL), an investment bank, in its daily market analysis.
The retail investors were still relying on speculative investments as they seemed to be unsure about which way the market was going in the short term, it added.
The turnover rose to Tk 7.39 billion, up by seven per cent from the previous session's Tk 6.90 billion.
In the pharmaceutical sector, one of the leading drug makers Beximco Pharma gained 1.2 per cent and Reckitt Benckiser 8.3 per cent.
In the energy sector, the state-run gas distribution company Titas Gas gained by 0.63 per cent while power companies lost.
Bextex, the sister concern of the leading industrial conglomerate Beximco Group, was the top turnover leader for the fifth straight session with shares worth Tk 653.84 million traded, accounting for nearly nine per cent of the total turnover.
Beximco Ltd, the flagship company of the industrial conglomerate, emerged second with shares worth Tk 488.17 million changing hands, followed by Lanka Bangla Finance Ltd with Tk 294.13 million, Square Pharma Tk 196.80 million, Jamuna Oil Tk 192.93 million, Maksons Spinning Tk 187.59 million and Titas Gas Tk 158.19 million.
Alhaj Textile was the top gainer with a rise of 19.68 per cent, followed by Saiham Textile with 14.21 per cent, Hakkani Pulp and Paper 14.01 per cent, Mithun Knitting 12.24 per cent and Imam Button 12.04 per cent.
Apex Tannery, the day's top loser, fell 8.86 per cent as its board of directors recommended 21 per cent cash dividend. The recommendation shocked the investors as it was lower than expected, market sources said.