DSE turnover hits 3-month high

FE Report The bourses ended higher for the second running session Sunday with turnover hitting three months high as investors went for buying spree amid strong optimism. The General Index of the Dhaka Stock Exchange (DGEN) crossed 4,000 points mark after 52-session to close at 4,079.97 points, gaining 97.90 points or 2.45 per cent. The other two indices also posted significant gains --- the DSEX went up by 99.84 points or 2.64 per cent to close at 3,873.62 while the blue chip index DS30 rose 27.69 points or 2.0 per cent to close at 1,410.77 points. The DSE also saw significant improvement in liquidity as the total turnover recorded Tk 5.38 billion, an increase of 39.5 per cent from previous session's value. It was also three months highest turnover since February 19 when it was recorded Tk 5.43 billion. "Week started with strong optimism, as prolonged uptrend hoisted confidence further amid investors. With Q1 declarations just passing by, investors seemed active in managing investments over reformed expectations," commented IDLC Investments, in its daily market analysis. In addition, apparent persistence of positive sessions has been pulling previously inactive investors, thus improving overall activity," said the IDLC Investments. Further, as budgetary expectations, especially regarding improvement of stock market got momentum, market participants appeared optimistic, said the merchant bank, in its analysis. "As political violence is literally absent now, investors regained enough confidence to be on the full swing and that's what gave the market enough strength," stated Zenith Investments. "Liquidity has been consistently upgrading and it went to a new level Sunday. Considering the circumstances and sectoral movements, this positive run looks more likely to be a sustainable one," said the Zenith Investments. "With many positive expectations and anticipations hovering all around, riding on the bull continues as the week's first session begins with another hike," commented LankaBangla Securities.