DSE continues to see hefty turnover

Dhaka,  Mon,  21 August 2017
Published : 02 Aug 2017, 22:08:44
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DSE continues to see hefty turnover

FE Report

Stocks extended the gaining streak for the three consecutive sessions Wednesday as optimistic investors continued their buying appetite on bank issues.

Brokers said the market sustained gaining momentum as investors were active in the market, especially on banking issues following their positive quarterly earning declarations.

Daily trade turnover on Dhaka Stock Exchange (DSE) also stayed above Tk 12 billion-mark for the second day and the total turnover amounted to Tk 12.39 billion, which was Tk 12.37 billion in the previous day.

Bank issues led the turnover chart for the eighth consecutive session with 29 per cent contribution, while textile followed next grabbing 14 per cent of the total turnover.

DSE continues to see hefty turnover

The bank sector also posted the highest gain of 1.60 per cent, riding on the price advancement of all the issues of the sector, except for Brac Bank, led by Rupali Bank, AB Bank, IFIC Bank and SIBL, gaining 7.03 per cent, 4.41 per cent, 4.27 per cent and 3.73 per cent respectively.

"Stocks from banks remained the driving force to jack the index up while stocks from miscellaneous and services & real estate sectors also attracted buyers," commented EBL Securities, a stockbroker, in its regular market analysis.

After witnessing volatility in the early trading, the core index of the prime bourse remained positive most of the day with minor fluctuation.

DSEX, the prime index of the DSE, which replaced the DGEN in four-and-a-half-year back, continued to hold its gaining momentum, adding 14.91 points more to settle at a historical high of 5,891 points, since its inception on January 27, 2013.

The country's prime bourse launched the DSE Broad Index (DSEX) on January 27, 2013 with a base point of 4,055.90, replacing the DSE General Index (DGEN).

However, DGEN, the then key index of the DSE, rose to an all-time high at 8918.51 points on December 5, 2010, when the market was bullish before crash.

Along with core index, the total market capitalisation of the DSE also rose to an all-time high of over Tk 3,965 billion on the day, surpassing the previous high of Tk 3,961 billion recorded on Monday.

However, the two other indices faced mild correction. The DS30 index, comprising blue chips, fell 5.29 points or 0.25 per cent to finish at 2,132. The DSE Shariah Index (DSES) lost 1.22 points or 0.09 per cent to close at 1,315.

International Leasing Securities, a stockbroker, said, "The session opened with selling pressure in the first half an hour, however, the active presence of the bargain hunters helped the indices to close in green".

The port city bourse traded 27.16 million shares and mutual fund units' worth Tk 691 million in turnover.

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