47pc turnover comes from general ins sector

Dhaka bourse on Wednesday closed flat after day long volatility amidst price corrections witnessed by major sectors as investors opted to diversify their portfolios.
On the day, the broad index of Dhaka Stock Exchange (DSE) escaped large correction riding on general insurers many of which topped the chart of most traded issues along with witnessing maximum price appreciation.
The DSE opened the day's session positively but soon later the broad index DSEX displayed ups and downs that continued till closure following mixed performance of some major sectors.
Of the major sectors, bank, telecommunication, engineering and textile witnessed price correction while general insurance and pharmaceuticals sectors witnessed price appreciation.
Finally, the core index settled at 4916.85 points with a loss of 0.01 per cent or 0.41 point. The DSEX gained 78 points in last four consecutive sessions.
On Wednesday, the shariah based index DSES declined 0.21 per cent or 2.35 points to close at 1116.74 points.
DS30 index comprising blue chip securities advanced 0.40 per cent or 0.68 point to close at 1695.07.
Of 354 issues traded, 109 advanced, 178 declined and 67 were unchanged on the premier bourse DSE.
At the end of the session, the DSE posted a turnover of above Tk 8.55 billion which was 6.53 per cent less than the turnover of the previous session.
Above 46.30 per cent of the turnover came from general insurance sector following investors' increased participations.
Of total market turnover, above Tk 203.90 million came from transactions executed in block board.
According to a market review of International Leasing Securities, Dhaka stocks ended flat as the investors' state of mind oscillated between optimism and watchfulness.
"The market started with buoyancy as the bargain hunters continued their buying appetite especially on the general insurance stocks," said the market review, adding that many other investors rebalanced their investments in financial institutions, cement, ceramic, mutual fund, life insurance and telecom sectors.
On Wednesday, investors' participation was concentrated mostly on general insurance sector which featured a turnover of above Tk 3.93 billion through above 97.93 million trades executed on the DSE.
Of other most traded sectors, pharmaceuticals & chemicals engineering featured a turnover of above Tk 749 million, followed by engineering Tk 623 million, textile Tk 436 million and bank 390.80 million.
Continental Insurance topped the chart of top traded issues with a turnover of Tk 382 million followed by Asia Pacific Insurance Tk 368 million, Republic Insurance Tk 277 million, Rupali Insurance Tk 211 million, and Beximco Pharmaceuticals Tk 206 million.

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