DSE turnover scales Tk 12 billion-mark

Dhaka,  Thu,  21 September 2017
Published : 01 Aug 2017, 22:24:25
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DSE turnover scales Tk 12 billion-mark

Stocks extend winning spell as banks keep gaining
FE Report


Daily trade turnover on Dhaka Stock Exchange (DSE) scaled Tk 12 billion-mark Tuesday after more than two weeks as investors continued to put fresh funds on stocks.

Turnover, a crucial indicator of the market, stood at Tk 12.37 billion on the country's premier bourse, climbing further by 6.10 per cent over previous day's mark of Tk 11.66 billion.

It was the biggest single-day transaction in last two weeks since July 16, when the turnover was recorded at Tk 12.63 billion.

"The market sustained gaining momentum with healthy amount of activities," said IDLC Investment, a merchant bank, in its regular market analysis.

On the day, a hefty amount of Tk 1.7 billion came from block trades-Rahima Food (Tk 707 million), SIBL (Tk 511 million) and Brac Bank (Tk 409 million).

The DSEX continued to hold its gaining momentum adding 15.61 points to settle at a historical high of 5,876 points since inception of the prime index four-and-a-half-year back by replacing the DGEN on January 27, 2013.

Brokers said the investors continued their buying appetite on heavyweight bank issues, following their healthy quarterly earnings declaration.

"The investors' enthusiasm sustained as local and foreign investors remained active in the market, especially banks, which prompted many investors to inject additional funds," said an analyst at a leading brokerage firm.

The bank sector kept its dominance in terms of both turnover and gain -- 22 of the 30 listed banks closed positive, led by Trust Bank, Rupali Bank and Eastern Bank, gaining 8.74 per cent, 7.69 per cent and 6.33 per cent respectively. The sector contributed around 30 per cent of the day's total turnover.

AT Capital Partners, an asset management company, said: "The market continued to post record its new high."

The DSE Shariah Index (DSES) also advanced 1.18 points or 0.09 per cent to close at 1,316. However, the DS30 index, comprising blue chips, fell 6.55 points or 0.30 per cent to finish at 2,137.

The market opened the session on a positive note and continued till the closure, but observed some profit booking sell-offs in the mid-session.

International Leasing Securities, a stockbroker, noted that the buying interest stimulated the sector specific issues, especially in tannery, textile and bank amid optimism while the shaky investors booked profit on financial institution, engineering and food sectors.

The large-cap sectors showed mixed performance. Bank sector posted the highest gain of 0.77 per cent, followed by pharmaceuticals 0.17 per cent.

The non-bank financial institutions witnessed the highest correction of 1.46 per cent, followed by food & allied with 0.46 per cent, fuel & power 0.39 per cent, engineering 0.10 per cent and telecommunication 0.09 per cent.

The gainers took a modest lead over the losers as 329 issues traded, 171 closed higher, 128 closed lower and 30 remained unchanged on the DSE trading floor.

City Bank led the turnover chart with about 11.41 million shares of Tk 481 million changing hands, followed by C&A Textile, LankaBangla Finance, ONE Bank and Premier Bank.

Trust Bank was the day's highest gainer, posting 8.74 per cent rise, while the newly listed BBS Cables was the worst loser, plunging 9.08 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also stayed higher with its Selective Categories Index - CSCX - gaining more than 44 points to settle at 11,004.

Gainers beat losers as 142 issues closed higher, 78 closed lower and 35 remained unchanged on the CSE.

The port city bourse traded 25.38 million shares and mutual fund units' worth Tk 625 million in turnover.

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