Turnover crosses Tk 4.0b-mark on DSE

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FE Report Dhaka stocks and Chittagong stocks ended higher Sunday with turnover crossed Tk 4.0 billion mark for the first time in 2013 on the premier bourse as investors injected fresh fund amid optimism. The General Index of the Dhaka Stock Exchange (DSE), DGEN ended at 4,348.65 points, gaining 30.46 points or 0.70 per cent as market showed its bullish tendency from the very start. The newly introduced---The DSE Broader Index (DSEX) went up by 48.85 points or 1.16 per cent to close at 4,248.44. The DSE-30 Index (DS30) also gained 16.38 points or 1.07 per cent to close at 1,540.92. Turnover on the premier bourse---DSE stood Tk 4.18 billion, up by 26 per cent from previous session. It was also the highest turnover in the last three-month since October 17, last year. "Setting the highest turnover record in 2013, opening session of the week closed green riding on improved market sentiment," stated IDLC Investments, in its regular analysis. "With political scenario getting a positive turn in last weekend, confidence improved amid investors, driving fresh investments upward. The resultant upsurge in activity pushed turnover up," the IDLC analysis said. LankaBangla Securities said, "Strong liquidity inflow visible in healthy turnover growth. Top traded twenty companies were in the gaining streak with occupying of 54 per cent of total turnover." "Record amount of foreign currency reserve couple with central bank's commitment to increase private sector credit growth is a positive indication for the market," the LankaBangla said, in its analysis. According to Zenith Investments, market is acting on the bullish side as the sign of the turnaround is being clearer gradually. Some sound scrips have already given very high returns within a very short period of time. Unlike the initial phase of this run, scrips are now gaining high with high volume force. With this dynamism in demand and supply side, market's support base has been being a lot stronger, the Zenith analysis observed. Fuel and power sector continued its streak, remained the top turnover for fifth consecutive session with Tk 711.9 million. Textiles closely followed with Tk 685.7 million. After long stagnancy, Summit Power showed a flashy performance with 3.59 per cent gain. But, it was shadowed by greater performance by newcomer Summit Purbanchol Power Company which gained 10.28 per cent. Consequently the sector gained 1.14 per cent although oil companies experienced a corrective session.