Ten firms grab 38pc of DSE weekly turnover

The ten most-traded firms accounted for 38 per cent of the turnover on the Dhaka Stock Exchange (DSE) in the outgoing week, with Fu-Wang Food dominating the chart for the third straight week.
Fu-Wang Food, a small-cap company, continued to dominate the turnover chart as some investors chased its stock once again anticipating quick-buck.
The company's stock price also jumped 22.66 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 on July 2 this year before many of the stronger companies and soared 82 per cent within two weeks.
However, in the next one month, its stock price fell more than 40 per cent to come down to Tk 25.90 on August 14 after that its stock started to rise further and closed at Tk 40.60 on Thursday.
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 60.63 million Fu-Wang Food shares were traded during the week, generating a turnover of Tk 2.26 billion, which was 10.13 per cent of the week's total turnover.
Rupali Life Insurance came second on the turnover chart, with shares worth Tk 970 million changing hands. The company's stock fell 0.52 per cent to close at Tk 114.10 on Thursday.
Eastern Housing clinched the third spot, with shares worth Tk 768 million changing hands. The lone listed realtor's stock closed at Tk 95.10, rising15 per cent as the realtor posted a record profit in FY23.
The company raked Tk 688 million profits in the FY23, a 25 per cent growth over the previous year. It also declared a 25 per cent cash dividend, the highest in five years.
Sonali Paper & Board Mills emerged as the fourth, with shares worth Tk 754 million changing hands during the week. The company's share price advanced 7.89 per cent to close at Tk 690.20 on Thursday.
Emerald Oil Industries notched the fifth spot, with shares worth Tk 681 million changing hands. The company's stock closed at Tk 171.80, gaining 9.78 per cent over the previous week.
The turnover of Sea Pearl Beach Resorts was Tk 660 million. The company's share price rose 3.88 per cent to close at Tk 181.90 on Thursday.
Intraco Refueling Stations featured a turnover of Tk 638 million. The company's share closed at Tk 41.30 on Thursday, soaring 15.40 per cent, becoming the third highest weekly gainer.
The turnover of Khan Brother PP Woven Bag Industries was Tk 624 million. The company's stock closed at Tk 28.30, soaring 14.11 per cent over the week before.
Gemini Sea Food featured a turnover of Tk 604 million. The company's share closed at Tk 779.70, gaining 7.15 per cent.
Miracle Industries also made its way to the week's top turnover chart, with shares worth Tk 476 million changing hands. The company's share fell 4.22 per cent to close at Tk 40.90 on Thursday.

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