DSE turnover crosses Tk 5b mark

FE Report Dhaka stocks gained for the fourth straight session Thursday with turnover increased substantially, as the investors went for fresh buying predicting further rise in shares prices in the coming sessions. Marker analysts said the participation of investors in the market is increasing gradually, as they are optimistic about stability in the market in the days to come and opting for fresh buying. Total turnover value crossed the Tk 5.0-billion mark after four weeks and stood at Tk 5.02 billion, up by 20.7 per cent compared to Tk 4.15 billion in the previous session. The market opened with a positive note and gained more than 40 points within 10 minutes. The upbeat trend continued until the closure of the session amid moderate ups and downs and finally ended the day 68 points higher. The benchmark general index of Dhaka Stock Exchange-DGEN-rose 68.49 points or 1.32 per cent to close at 5,232.38. In the last four consecutive sessions, the general index of the DSE gained 4.64 per cent or 236.02 points. The broader DSE All Shares Price Index (DSI) went up by 58.37 points or 1.35 per cent to close at 4,360.96. The DSE-20 blue-chip index also advanced 39.56 points or 1.02 per cent to close at 3,897.75. Professor Salah Uddin Ahmed Khan, a finance teacher at the Dhaka University, told the FE, "Investors become hopeful that the market will be stable in the days to come, as sponsorsdirectors continued their declaration to buy shares to comply with the regulator's directive." "Sponsorsdirectors move to buy shares made investors optimistic and they went for fresh investment," said Mr Khan, also former CEO of the DSE. Meanwhile, three more sponsorsdirectors of three companies expressed their willingness to buy shares at prevailing market price through stock exchange within next 30 working days. Out of 263 issues traded, 197 advanced, 55 declined and 11 remained unchanged. A total of 104.34 million shares changed hands on the day against 83.11 million in the previous session. The trade deals also increased to 148,795 against Wednesday's 121,018. Total market capitalisation of the DSE increased to Tk 2,603.57 billion against Tk 2,576.85 billion in the previous session. All the major sectors closed higher on the day. NBFIs emerged as the highest gaining sector with 3.77 per cent gain. Among other sectors, banks, telecommunications, pharmaceuticals and fuel and power sectors gained 0.28 per cent, 0.62 per cent, 1.85 per cent and 1.11 per cent respectively. United Airways topped the turnover chart with shares worth Tk 187.09 million changed hands. The other turnover leaders were Fu Wang Food, Aftab Auto, SIBL, Mercantile Bank, Fu-Wang Ceramics, Al-Arafah Islami Bank, GP, City Bank and Peoples Leasing. Mithun Knitting was the top gainer posting a rise of 9.98 per cent on the day. It was followed by Purabi General Insurance, Saiham Textile, FAS Finance, Rupali Bank, International Leasing, Premier Leasing, IPDC, Dacca Dyeing and Eastern Lubricants. The day's worst losers included Rahim Textile, EBL NRB Mutual Fund, Standard Ceramics, CVO Petrochemical Refinery Limited, Gemini Sea Food, First Bangladesh Shilpa Rin Sangstha Mutual Fund, Hakkani Pulp and Paper, Sixth ICB, Seventh ICB and Anlima Yarn.