DSE posts record turnover as bargain hunters chase small, mid-cap cos

The Dhaka Stock Exchange (DSE) on Thursday posted the highest turnover this year until now on the back of investors' increased participation in small- and mid- cap companies.
Investor participation rose gradually for the last three consecutive sessions as bargain hunters continued their buying spree.
The DSE on Thursday posted a turnover of Tk 9.67 billion, which was 26 per cent higher than the previous session.
The bourse posted a turnover of Tk 1.78 billion on January 1, the lowest in 2023 until now.
"The market on Thursday opened on a flying note and the upbeat trend continued till the end beating some profit-booking sale pressures in the mid-session," said International Leasing Securities.
At the end of the day's session, the DSE broad index, DSEX closed at 6,274 points with a rise of 0.12 per cent or 7.71 points.
The DSEX rose marginally, riding on price appreciation of stocks that were above the floor.
"Investors preferred to take positions in sector-specific issues with positive expectations from the upcoming earnings discourses," said EBL Securities.
The DSEX has continued its upward trend rising marginally since April 13.
Of the total issues traded on Thursday, 79 advanced, 62 declined and 210 were unchanged on the premier bourse.
Shariah-based index DSES advanced marginally while DS30 index lost some points.
Genex Infosys made the highest contribution to the record turnover, with transactions of shares worth Tk 450 million, followed by Unique Hotel & Resorts PLC Tk 446 million, Bangladesh Shipping Corporation Tk 433 million and Eastern Housing Tk 369 million.
The food & allied sector saw the highest participation of investors and grabbed 16.2 per cent of the market turnover, followed by bank 13.1 per cent, IT 12.6 per cent, and pharmaceuticals & chemicals 7.1 per cent.
Sector-wise, the jute sector saw the highest price appreciation of 4.9 per cent.
Jute Spinners advanced 8.75 per cent, Northern Jute Manufacturing Company 5.51 per cent and Sonali Aansh Industries 4.22 per cent.
Of other sectors which saw price appreciation, paper & printing advanced 2.6 per cent, IT 1 per cent and life insurance 0.8 per cent.
Of the sectors that witnessed price corrections, travel & leisure declined 3.8 per cent, services & real estate 1.7 per cent, and tannery 0.4 per cent.
IT Consultants was the highest gainer after the share price advanced 8.78 per cent on Thursday while Uttara Bank was the worst loser with a 12.35 per cent decline on the DSE.
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