DSE posts record turnover, as sideliners return to market

Turnover value on the Dhaka Stock Exchange (DSE) crossed Tk 5.0 billion-mark Thursday for the first time in 2015, hitting a five-month high, supported by strong buying and selling pressure.
Daily turnover jumped to Tk 5.38 billion, registering an increase of 14.6 per cent over the previous session's value of Tk 4.69 billion. It is the highest turnover value since November 19, last year when it was Tk 5.76 billion.
The investors' activity was mostly concentrated on power, engineering and food and allied-the sectors that accounted for 22.9 per cent, 12.4 per cent and 11.3 per cent respectively of the day's total turnover.
Along with increasing turnover, the prime index of the DSE-DSEX-also went up by 12.84 points or 0.29 per cent to close at 4,373.33 points.
However, two other indices ended in negative territory. The DS30 index, comprising blue chips, lost 2.35 points or 0.14 per cent to close at 1,668.34 points. The DSE Shariah Index (DSES) shed 4.50 points or 0.42 per cent to close at 1,060.88 points.
"Sideliners seemed to be returning to the market, registering Tk 5.38 billion-turnover, which is continuously improving for last three sessions. The additional fund flow caused upbeat prices for many issues," said IDLC Investments, a merchant bank, in an analysis.
However, sellers still remained strong restraining market to enter into a positive correction mode. Their dominance sustained, assisting DSEX to close 13 points higher, despite the fact that buyers pulled the market up by almost 50 points, early in the session, said the merchant bank.
Recent earnings disclosure for the period of January-March 2015 had been 'promising' so far and may have partly played in increased turnover. The hypothesis got enforced, by upbeat earnings disclosure and subsequent price appreciation of Heidelberg Cement and Zahintex Industries, said the merchant bank.
"The market ended in positive territory amidst increased participation from the investors," said International Leasing Securities.
The morning buying pressure slowed later as several investors preferred to book short-term profit as they remained 'watchful' on sudden market reversal, said the International Leasing.
The market turnover crossed the Tk 5.0 billion-mark as investors started to become active in the market who stayed on the sideline during the recent bearish momentum, it said.
The large-cap sectors posted mixed performance. Banks and NBFIs in the financial sector registered gains of 1.73 per cent and 0.99 per cent respectively. Power advanced by 0.59 per cent.
The gainers took a modest lead over the losers as out of 310 issues traded, 142 advanced, 136 declined, and 32 remained unchanged.
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