Ten firms grab 30pc of DSE weekly turnover

The ten most-traded firms accounted for 30 per cent of the turnover on the Dhaka Stock Exchange (DSE) in the outgoing week, with Fu-Wang Food dominating the chart for the second straight week.
Fu-Wang Food, a small-cap company, continued to dominate the turnover chart as some investors chased its stock anticipating quick-buck.
The company's stock price also jumped 34.10 per cent in the outgoing week, becoming the week's top gainer, riding on the rumour that its stock price will increase further.
Fu-Wang Food took off from the floor two weeks back before many of the stronger companies and soared 82 per cent during the period to Thursday.
The unusual price hike prompted the prime bourse to serve show-cause notice on the company last week to know whether there was any price sensitive information for the price hike.
The company, however, in a knee-jerk response, said that there is no undisclosed price sensitive information of the unusual price hike.
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.
Despite a lack of business growth, a company exhibits a rally in the stock market when a certain group of people influence the price while others join the rally not to miss out on the opportunity to make quick-buck, said a stockbroker.
According to the DSE data, some 86.52 million Fu-Wang Food shares were traded during the week, generating a turnover of Tk 3.25 billion, which was7.63 per cent of the week's total turnover.
Lub-reef (Bangladesh) came second on the turnover chart, with shares worth Tk 1.72 billion changing hands. The company's stock soared 9.01 per cent to close at Tk 38.7 on Thursday.
Delta Life Insurance clinched the third spot, with shares worth Tk 1.41 billion changing hands. The life insurer's stock closed at Tk 166.20, rising 8.49 per cent over the week before.
Associated Oxygen emerged as the fourth, with shares worth Tk 1.21 billion changing hands during the week. The company's share price advanced 0.82 per cent to close at Tk 36.80 on Thursday.
Sea Pearl Beach Resorts notched the fifth spot, with shares worth Tk 1.09 billion changing hands. The company's stock closed at Tk 230.30, gaining 4.92 per cent over the previous week.
The turnover of Generation Next Fashion was Tk 969 million. The company's share price surged 12.33 per cent to close at Tk 8.20 on Thursday.
Rupali Life Insurance featured a turnover of Tk 911 million. The company's share closed at Tk 215.20 on Thursday, losing 11.80 per cent, becoming the fourth highest weekly losers.
The turnover of Fu-Wang Ceramic was Tk 827 million. The company's stock closed at Tk 21.20, soaring 15.22 per cent over the week before.
ADN Telecom featured a turnover of Tk 815 million. The company's share closed at Tk 144.70, gaining 4.48 per cent.
Khan Brother PP Woven Bag Industries also made its way to the week's top turnover chart, with shares worth Tk 786 million changing hands. The company's share rose 8.12 per cent to close at Tk 29.30 on Thursday.

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