Turnover on DSE crossed the Tk 800-crore level for the first time

Author Topic: Turnover on DSE crossed the Tk 800-crore level for the first time  (Read 246 times)

Offline Tofazzal.ns

  • Sr. Member
  • ****
  • Posts: 314
  • Test
    • View Profile
Turnover on Dhaka Stock Exchange crossed the Tk 800-crore level for the first time in the last seven months amid a gradual revival of investor confidence and an increased supply of fresh funds. The turnover, an important indicator of the market, was at Tk 808.75 crore at the end of yesterday's trading, after increasing 7.26 percent from the previous day. The turnover on the premier bourse was Tk 846.32 crore on November 12 last year.

With a clear coast on the horizon, investors continued investing in the equity market in prospect of recovery of stock prices, IDLC Investments said.

“The entirety of the capital market seemed to be attracting funds from the money market as returns from fixed income instruments fell and equities had gone dirt cheap,” the merchant bank said.

DSEX, the benchmark index of the Dhaka bourse, rose 51.85 points or 1.17 percent before finishing the day at 4,459.28 points.

Lanka Bangla Securities said the index extended the gaining streak as a bullish stance in the capital market has lured more buyers with fresh funds.

“A large turnover value has put the market on strong grounds above the 4,400 points level, which reinforced market sentiments.”

Top brokers have sought intervention from the finance minister and central bank to stabilise the market by extending the deadline till December 2020 to adjust banks' overexposure.

“This would smooth out forced selling pressures by institutional investors,” the stockbroker said.

Gainers outnumbered losers 210 to 58, with 32 securities remaining unchanged on the DSE, which traded 21.02 crore shares and mutual fund units yesterday.

United Power Generation and Distribution Company topped the turnover leaders' chart with a transaction of 17.49 lakh shares worth Tk 38.48 crore, followed by Khulna Power Company, Bangladesh Submarine Cable Company, RAK Ceramics and Baraka Power.

Among the major sectors, non-bank financial institutions gained 4.48 percent in market capitalisation, followed by textiles with a 1.99 percent rise, engineering 1.64 percent and banks 1.32 percent.

Bangladesh General Insurance Company was the day's best performer, advancing 10 percent, while BD Thai Aluminium was the worst loser, slumping 7.14 percent.

Chittagong stocks also continued to gain yesterday with the bourse's benchmark index, CSCX, increasing 99.71 points to finish at 8,404.1.

Gainers beat losers as 165 scrips advanced and 56 declined, while 21 closed unchanged on the Chittagong Stock Exchange.

The port city bourse traded 2.36 crore shares and mutual fund units, generating a turnover of Tk 69.32 crore.
Muhammad Tofazzal Hosain
Lecturer, Natural Sciences
Daffodil International University

Offline munna99185

  • Faculty
  • Hero Member
  • *
  • Posts: 573
  • Test
    • View Profile
Re: Turnover on DSE crossed the Tk 800-crore level for the first time
« Reply #1 on: May 21, 2015, 02:06:22 PM »
We expect that our respected shareholders will be cautious in making
their investment decisions.

Sayed Farrukh Ahmed
Assistant Professor
Faculty of Business & Economics
Daffodil International University