Khan Brothers tops turnover chart as it joins DS30 index

Ten firms grab one-fifth of weekly DSE turnover

FE Team | Published: January 17, 2025 22:21:21

FE REPORT
The ten most-traded companies accounted for one-fifth of the turnover on the Dhaka Stock Exchange (DSE) this week, with Khan Brothers PP Woven Bag Industries dominating the chart, driven by its recent inclusion in the blue-chip DS30 index.
The prime bourse has rebalanced the DS30 index, adding nine companies to it, effective from January 19. Khan Brothers is one of them.
On the other hand, nine heavyweight firms, including Beximco, Summit Power, Islami Bank and Heidelberg Cement have been dropped from the DSE's elite club of top 30 shares as they failed to meet criteria, set by S&P Dow Jones Indices.
The blue-chip DS30 index, a group of 30 prominent companies, considered as investable stocks. Following the news, investors chased Khan Brother's stock in anticipation of short-term gain. According to the DSE data, shares worth Tk 635 million changed hands during this week, which is 3.35 per cent of the week's total turnover.
Turnover, a crucial indicator of the market, stood at Tk 18.90 billion this week, up from Tk 17.33 billion the previous week.
Khan Brothers' stock price also jumped almost 9 per cent this week to close at Tk 175.5 on Thursday. The stock price also jumped an astounding 38 per cent in a month.
Fine Foods came second on the turnover chart, with shares worth Tk 602 million changing hands. The company's stock, however, plunged 18.66 per cent to close at Tk 207, becoming the week's top loser, despite posting a record profit in the second quarter.
Grameenphone clinched the third spot, with shares worth Tk 595 million changing hands. The largest market-cap company's stock closed at Tk 331.1, shedding 0.39 per cent.
Orion Infusion emerged as the fourth, with shares worth Tk 540 million changing hands during the week. The company's share price advanced 7.4 per cent to close at Tk 381.4 on Thursday.
Midland Bank notched the fifth spot, with shares worth Tk 535 million changing hands. The bank's stock closed at Tk 27.6, plunging 18.34 per cent, becoming the second top loser.
The turnover of Aftab Automobiles was Tk 483 million. The company's share price rose 5.1 per cent to close at Tk 39.1 on Thursday.
Monno Fabrics featured a turnover of Tk 480 million. The company's share closed at Tk 16.4 on Thursday, gaining 1.23 per cent.
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