Daily average turnover jumps to near Tk 9.0b

The prime index of the Dhaka Stock Exchange (DSEX) posted a staggering 11.40 per cent return in September, the steepest single-month gain in 2014, as the market was on a steady gaining streak almost throughout the month.
DSEX, the prime index of the DSE opened the month at 4,554.97 points and closed at 5,074.30 points, registering 519.33 points or 11.40 per cent gain during the month of September.
The DS30, comprising blue chips also witnessed steep gain in September. The DS30 opened the month at 1,722.68 points and closed the month at 1,960.87 points, posting 238.49 points or 13.84 per cent return. The DSE Shariah Index also gained 130.61 points or 12.26 per cent to close at 1,195.52 points.
Trading remained vibrant throughout the month and the total turnover in September amounted to around Tk 194.83 billion. The daily turnover averaged Tk 8.86 billion as the month observed 22 trading sessions, according to the DSE data.
The month's lowest daily turnover was Tk 5.01 billion on September 1, while the highest daily turnover was Tk 12.88 billion recorded on September 18.
The market capitalisation of the DSE also went up by Tk 337 billion in September as it was Tk 3,047.29 billion on the opening day of the month and it stood at Tk 3,374.28 billion on closing day of the month.
Market insiders attributed the current market trend to investors' growing confidence and fresh funds injection in the market.
The market was remained vibrant throughout the month amid strong buying pressure from the investors, including global fund managers, said an analyst.
"Single digit interests on deposits, favourable economic factors and political stability encouraged the investors to make fresh investments," he said.
Akter H Sannamat, managing director of Union Capital said: "Recent improvements in market situation seem to heighten investors' confidence and pull previously inactive investors, thus improving overall activity".
He, however, said that the new investors should carefully invest in a booming market and should analyse the fundamentals of securities before they put cash in stocks.
"Current market scenario indicates investors' growing confidence about the long term bullishness of the market with burgeoning liquidity and economic activities," said LankaBangla Securities, in an analysis.
Fixed Deposit Receipt (FDR) rate has been on the wane for some time now, which might be alluring investors to invest in equity, said the stock broker.
Investors are observed to be twigging higher value in stocks which made the index to close with strong ground where market indicators are showing resilience, said the stock broker.
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