As many as 10 companies dominated the chart of top turnover leaders of the Dhaka bourse consistently in the recent sessions.
Though the prime bourse has been witnessing very low turnovers, the companies including Khan Brothers PP Woven Bag Industries, Aftab Automobiles, Orion Infusion, Asiatic Laboratories, Taufika Foods and Lovello Ice-cream, and Fine Foods posted remarkable turnovers and made it to the chart of the DSE's 20 turnover leaders.
A majority of the companies are small cap. They experienced increased investor participation when large-cap companies have been unable to attract investors.
Midland Bank, Agni Systems, and Oimex Electrodes were also on the top turnover chart in recent sessions.
Despite being a junk stock, Khan Brothers PP Woven Bag Industries exhibited an abnormal rally. Its share price jumped 34 per cent in the last 10 sessions on the DSE.
The company incurred losses for the four years to FY23 and reported a profit of Tk 0.86 million only for FY24.
The stock price of Fine Foods and Midland Bank declined 24 per cent and 26 per cent respectively.
Before the correction, both the companies experienced a rally. The recent price erosion happened as investors, who had taken position in the company, offloaded their holdings.
Midland Bank witnessed a rally between August 18 and November 21 last year, when its stock jumped 69 per cent.
The stock price of Fine Foods jumped 78 per cent to Tk 271 per share in the three months to January 6.
The daily turnovers featured by the Dhaka bourse remained below Tk 4 billion since December 18 last year.
After experiencing a loss of 61 points in the five sessions to Thursday, the DSE broad index DSEX closed marginally higher on Sunday.
The market opened the day's session with a positive note but could not sustain the upward trend. After the mid-session, the broad index exhibited another upward trend and closed with a marginal gain.
At the end of the session, the DSEX settled at 5145 points with a gain of 0.21 per cent or 11.15 points.
Following the appreciation experienced by a majority of blue chip stocks, DS30 index advanced 0.45 per cent or 8.61 points to close at 1902 points.
The Shariah-based index DSES also advanced marginally and closed at 1155 points with a gain of 4.89 points.
Of the total issues traded, 172 advanced, 160 declined and 64 were unchanged. The DSE posted a turnover of Tk 3.68 billion, 1.21 per cent up from the previous session.
On January 12, the premier bourse rebalanced its three indices -- DSEX, DS30 and DSMEX -- with new companies added and some excluded based on set criteria.
The revised DS30 index that came into effect along other two indices on Sunday had nine companies newly included in it.
Of them, Walton Hi-Tech Industries, Prime Bank, Kohinoor Chemicals Company (Bangladesh), MJL Bangladesh, Padma Oil Company, and IDLC Finance experienced appreciation on Sunday.
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