Grameenphone, the largest stock in terms of market capitalisation, topped the weekly turnover chart of Dhaka Stock Exchange (DSE) this week for the first time in two years, as buoyant investors poured fresh funds into the market amid renewed optimism.
This week's top ten turnover list mostly featured fundamentally strong stocks, and these ten most-traded firms accounted for 30 per cent of the turnover on the DSE.
The total turnover of the week surged to Tk 64.11 billion, as against Tk 33.40 billion in the previous week.
The investors are hopeful about the return of good governance after a major political shift as the new government is likely to make some structural changes for the benefit of the stock market, market operators said.
Buoyed by this transition, enthusiastic investors chased Grameenphone (GP) stocks after a long time.
As a result, GP became the most traded stock with shares worth Tk 4.97 billion changing hands. Its stock price also jumped 18.6 per cent during the week to Tk 377 on Thursday.
Higher profit growth in January-June this year coupled with a business growth forecast in the coming quarters after the interim government took charge boosted investor confidence, said a leading stockbroker.
GP posted more than 11 per cent year-on-year growth in profit to Tk 21.99 billion in January-June this year while revenue grew 5.6 per cent to Tk 81.56 billion in six months through June this year.
BRAC Bank came second on the turnover chart, with shares worth Tk 3.04 billion changing hands. The bank's stock surged 13.2 per cent to close at Tk 53.1 on Thursday.
BAT Bangladesh clinched the third spot, with shares worth Tk 1.66 billion changing hands. The tobacco leader's stock closed at Tk 427.9, rising 4.6 per cent.
Robi Axiata emerged as the fourth, with shares worth Tk 1.65 billion changing hands during the week. The second largest telecom operator's stock price advanced 10.2 per cent to close at Tk 33.6 on Thursday.
Square Pharmaceuticals notched the fifth spot, with shares worth Tk 1.64 billion changing hands. The drug maker's stock closed at Tk 24.9, losing 0.60 per cent over the previous week.
The turnover of IFIC Bank was Tk 1.59 billion. The bank's share rose 16.1 per cent to close at Tk 10.8 on Thursday.
Techno Drug featured a turnover of Tk 1.48 billion. The company's share closed at Tk 52.61, losing 8.2 per cent.
The turnover of City Bank was Tk 1.34 billion. The bank's stock closed at Tk 24.1, losing 0.80 per cent over the week before.
Unilever Consumer Care featured a turnover of Tk 1.04 billion. The multinational company's stock closed at Tk 31.36.7, gaining 5 per cent.
AB Bank also made its way to the top ten turnover chart, with shares worth Tk 971 million changing hands. The bank's stock surged by 22 per cent to close at Tk 11 on Thursday.
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