DSE turnover hits six week high

The turnover on Dhaka Stock Exchange (DSE) crossed Tk 11 billion-mark after six weeks, as investors put fresh funds on stocks after the coordination meeting.
Turnover, a crucial indicator of the market, climbed to Tk 11.16 billion on the country's premier bourse, up by 39 per cent over previous day's mark of Tk 8.01 billion.
It was the highest single-day turnover in six weeks since February 20, when turnover totaled Tk 11.40 billion.
DSEX, the key index of the DSE, however, ended slightly higher and went up by 4.07 points or 0.06 per cent to settle at 6,757, after losing over 11 points in the previous day.
Two other indices also edged higher. The DSE 30 Index, comprising blue chips, advanced 8.40 points to finish at 2,474 and the DSE Shariah Index (DSES) rose 4.18 points to close at 1,468.
Meanwhile, JMI Hospital Requisite Manufacturing shares were halted at 10 per cent-the upper limit circuit breaker after a few minutes of trading debut on Thursday.
The medical equipment manufacturer's share closed at Tk 22 each on the DSE, soaring 10 per cent, the highest allowable limit on its issue price of Tk 20 each.
Some 12 trades were executed on the DSE with a total of 467 shares changing hands as most of the IPO shareholders were unwilling to sell their stakes hoping for higher profit in future.
On the Chittagong Stock Exchange (CSE), the company's share also rose 10 per cent to close at Tk 22 each. Some three trades were executed with 102 shares changing hands on the CSE.
Market analysts said the investors showed their appetite for the new issue amid short-term speculation. So, it created an 'irrational hype' among investors on the debut trading day.
The optimistic investors put fresh funds on stocks as the securities regulator is trying to boost market liquidity through collaboration with market intermediaries, said a leading broker.
Bangladesh Securities and Exchange Commission held a meeting with the market intermediaries Wednesday where they agreed to take measures for increasing institutional participation in the market.
"Equity indices inched higher driven by increased participation as regulators' efforts are creating confidence among investors," according to EBL Securities.
Most of the major sectors posted gains with financial institutions witnessing a 1.0 per cent gain, followed by pharma with 0.70 per cent, food 0.60 per cent and general insurance 0.30 per cent.
On the other hand, banking and telecom sectors lost 0.70 per cent and 0.20 per cent respectively.
Losers took a modest lead over the gainers as out of 379 issues traded, 183 declined, 134 advanced and 62 issues remained unchanged on the DSE trading floor.
Fortune Shoes topped the turnover list with shares worth Tk 1.38 billion changing hands, followed by Sonali Paper (Tk 1.02 billion), Genex Infosys (Tk 692 million), Beximco (Tk 469 million), and IPDC Finance (Tk 188 million).
Newly listed JMI Hospital Requisite Manufacturing was the top gainer, posting a 10 per cent gain, while United Commercial Bank was the day's worst loser, losing 3.82 per cent following its corporate declarations.
However, the CSE edged lower with the CSE All Share Price Index - CASPI -losing 26 points to settle at 19,748 and the Selective Categories Index - CSCX - shedding 15 points to close at 11,847.
Of the issues traded, 169 declined, 98 advanced and issues 42 remained unchanged on the CSE.
The port-city bourse traded 26.08 million shares and mutual fund units with turnover value worth Tk 615 million.

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