Ten firms account for 31pc of weekly turnover

The ten most-traded firms accounted for about 31 per cent of the weekly turnover on the Dhaka Stock Exchange (DSE), with Fu-Wang Food dominating the chart for the sixth week in a row.
Fu-Wang Food, a small-cap company, continued to dominate the turnover chart as investors opted for profit-booking in its shares after a recent price surge.
According to the DSE data, some 37.18 million Fu-Wang Food shares were traded during the week, generating a turnover of Tk 1.26 billion, which was 3.15 per cent of the week's total turnover.
The total turnover of the week stood at Tk 40.05 billion, up from Tk 28.64 billion in the week before.
Fu-Wang Food reported only Tk 3.32 million profits for January-March 2023 as against Tk 2.21 million for the same quarter a year before.
The company failed to declare any dividend for FY21 and FY22. It paid 1.65 per cent cash dividend in 2020.
Despite a lack of business growth, it exhibits a rally in the stock market as a certain group of people influence the price, while others join the rally not to miss out on the opportunity to make quick-buck, market operators said.
The company's stock price saw an astounding 60 per cent increase in the three weeks before shedding around 20 per cent in the past two consecutive weeks.
Due to selling pressure, its stock price shed 2.65 per cent during the week to close at Tk 33.10 on Thursday.
Provati Insurance came second on the turnover chart, with shares worth Tk 1.20 billion changing hands. The insurer's stock rose 3.74 per cent to close at Tk 61.10 on Thursday.
Paramount Insurance clinched the third spot, with shares worth Tk 1.07 billion changing hands. The general insurer's stock closed at Tk 70.20 on Thursday, gaining 2.78 per cent over the week before.
Eastern Housing emerged as the fourth, with shares worth Tk 1.03 billion changing hands during the week. The company's share price rose 5.28 per cent to close at Tk 103.70 on Thursday.
Unique Hotel & Resorts notched the fifth spot, with shares worth Tk 1.02 billion changing hands. The company's stock closed at Tk 69.40 on Thursday, losing 1.98 per cent during the week despite the company reporting a doubled profit in the FY23.
Gemini Sea Food featured a turnover of Tk 1.01 billion. The shrimp exporter's stock closed at Tk 832.50 on Thursday, rising 6.0 per cent.
The turnover of Meghna Life Insurance was Tk 928 million. The life insurer's share price advanced 0.71 per cent to close at Tk 85.20 on Thursday.
Rupali Life Insurance featured a turnover of Tk 899 million. The life insurer's share closed at Tk 116.40 on Thursday, gaining 3.01 per cent.
The turnover of Republic Insurance was Tk 860 million. The general insurer's stock closed at Tk 53.40 on Thursday, soaring 29.93 per cent, becoming the second highest weekly gainer.
Emerald Oil Industries also made its way to the week's top turnover chart, with shares worth Tk 842 million changing hands. The company's share shed 1.33 per cent to close at Tk 148.20 on Thursday.

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