DSE turnover crosses Tk 3.0 billion-mark

---

FE Report Dhaka stocks ended higher Tuesday with turnover crossing Tk 3.0 billion-mark after two months as investors' reaction was apparently positive on the new indices and stakeholders' move to stablise the market. The DSE General Index, DGEN gained 52.86 points or 1.25 per cent to close at 4,250.30 points as the market shot upward with significant turnover improvement. The newly introduced---DSE Broad Index (DSEX) also gained 64.14 points or 1.56 per cent to close at 4,154.61 while DSE-30 Index (DS30) closed at 1,495.66 points, after gaining 22.65 points or 1.53 per cent. The total turnover value at DSE stood at Tk 3.41 billion, going up by 47.4 per cent from the previous trading session. It was the highest turnover in the last two-month since December 2, last year. "After having turnover more than Tk 2.0 billion for three consecutive session's turnover crossed the boundary of Tk 3.0 billion after 2 months and that greatly improved market liquidity. As a consequence, market was upbeat from the very start," commented Zenith Investments, in its regular market analysis. "As the volume got improved, market finally started turning back from long running sidewalk. Three consecutive days of positivity has provided more support to the market which helped it break resistance lines. In the coming few sessions, market is likely to continue this positivity before a correction appears," the Zenith analysis added. "As turnover got its flight recording the highest level in the year 2013. With 47.38 per cent upswing in the turnover, investors found breathing space and comfort after the year-starting liquidity crisis," stated IDLC Investments, in its regular analysis. Apparently, mixed December quarterly earnings announcement and expectation for upcoming yearend declarations created market movement, said the merchant bank. All the sectors ended positively gaining around 2.0 per cent each. Textiles sector got the highest turnover with Tk 635.6 million which was 62.22 per cent more than that of previous day. Banks took the second position with Tk 424.9 million which was exactly double. All other sectors has also got improved turnover. Banks turned out to be positive after a long time with 1.54 per cent gain. NBFI's continued their up surge with another more than 1.5 per cent gain. Scrips from IT sector performed very well helping the sector gaining well above 2.0 per cent. Textiles gained 2.13 per cent as spinning companies came back from earlier downfall. Other scrips also did well. Fuel and power gained 1.24 per cent although heavyweight Titas gas suffered loss. Pharmaceuticals and Telecommunications were up by 0.89 per cent and 0.33 per cent respectively. Of the issues traded on the prime bourse, 227 advanced, 33 declined and 12 remained unchanged. United Airways topped the turnover chart with shares worth Tk 222.48 million changing hands. Usmania Glass was the day's highest gainer, posting 9.98 per cent rise while Purabi General Insurance was the worst loser, slumping by 6.09 per cent. The Chittagong Stock Exchange (CSE) also closed higher with the Selective Categories Index of the CSE gained 103.62 points to close at 8,251.73 points. Gainers beat losers 167 to 15 with 9 issues remaining unchanged on the port city bourse with Tk 407.11 million in turnover.