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DSE turnover hits two-month high

FE Report | August 07, 2019 00:00:00

The turnover on Dhaka Stock Exchange (DSE) crossed Tk 5.0 billion-mark on Tuesday again as investors put fresh stakes on stocks amid post-Eid expectation.

Turnover, a crucial indicator of the market, stood at Tk 5.68 billion on the country's premier bourse, climbing further by 19 per cent over previous day's mark of Tk 4.77 billion.

It was the highest single-day turnover in nearly two months since June 13, when the turnover totaled Tk 5.72 billion.

Along with the rising turnover value, DSEX, the prime index of the prime bourse also rebounded after a single-day break.

DSEX, the prime index of the DSE, went up by 26.92 points or 0.52 per cent to settle at 5,187.

Market analysts said the market rebounded as pre-Eid sale pressure eased some extent as only two trading days are left before a nine-day Eid holidays.

Trading and official activities on the bourses will remain closed from August 9 to August 17, including weekly holidays, on the occasion of Eid-ul-Azha, one of the biggest religious festivals of the Muslims.

A leading broker said some investors reshuffled their portfolio from December-closing stocks to June-closing issues anticipating better dividend declaration ahead.

UCB Capital said the market remained upbeat throughout the session driven by large-cap shares like United Power, Khulna Power and Grameenphone.

The UCB Capital noted that pre-Eid sell-off waned and investors started injecting fund to take position in undervalued stocks.

Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 9.76 points to finish at 1,836 and the DSES (Shariah) index rose 4.66 points to settle at 1,194.

According to International Leasing Securities, the investors showed their buying spree in some large-cap stocks anticipating post-Eid gain.

The stockbroker noted that the optimistic investors buying appetite was mostly on power, telecom, bank, engineering and financial institutions sectors' stocks.

Trading activities increased as the investors' injected fresh fund which helped to cross the turnover Tk 5.50 billion levels after June 13, 2019, said the stockbroker.

Power posted the highest gain of 2.37 per cent, followed by non-bank financial institutions with 0.70 per cent, engineering 0.67 per cent, telecom 0.43 per cent and banking 0.37 per cent.

Food and allied and pharmaceuticals sectors suffered 0.24 per cent and 0.02 per cent loss.

A total number of 145,030 trades were executed in the day's trading session with trading volume of 148.18 million shares and mutual fund units.

The port city bourse, the Chittagong Stock Exchange, also ended higher lower with the CSE All Share Price Index - CASPI - gaining 85 points to settle at 15,873 while the Selective Categories Index - CSCX -rising 50 points to finish at 9,646.

Here too, the gainers beat losers as 143 issues ended higher, 92 closed lower and 31 remained unchanged.

The port city bourse traded 7.92 million shares and mutual fund units worth nearly Tk 254 million in turnover.

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