Bangladesh’s stock turnover hits 7-months high

Dhaka, Bangladesh (BBN) – Turnover value on the Dhaka Stock Exchange (DSE) hit a fresh seven months high on Wednesday to BDT 14.25 billion, powered by investors’ buying spree mostly on large-cap stocks.

Daily turnover value soared to BDT 14.24 billion, registering an increase of 18 percent over the previous session’s value of BDT 12.03 billion.

It was the highest turnover since BDT 15.25 billion on January 25, 2017.

Along with turnover, stocks rebounded strongly, snapping two-day losing streak, with three indices and market of the major bourse hitting record high.

Brokers said the market returned to higher as investors showed their buying appetite on large-cap sectors, especially bank and telecommunication, taking the market record high.

After witnessing mild correction in the previous two days, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher.

The positive trend sustained till end of the session amid modest volatility in the early session, finally closed more than 35 points higher.

DHAKA STOCK EXCHANGE:

DSEX, the core index of the DSE, which replaced the DGEN in four-and-a-half-year back, settled at nearly 6,184 points, after gaining 35.17 points or 0.57 percent over the previous session.

It was the highest level of DSEX since its inception on January 27, 2013.

The two other indices also ended higher. The DS30 index, comprising blue chips advanced 11.42 points or 0.52 percent to finish at 2,212.

The DSE Shariah Index (DSES) rose 6.64 points or 0.48 percent to close at 1,372.

The market activities also crossed BDT 14 billion-mark after seven-and-a half months, amounting to BDT 14.24 billion, which was 18 per cent higher than the previous day’s BDT 12.03 billion.

A total number of 0.162 million trades were executed in the day’s trading session with trading volume of 446.82 million securities.

The total market capitalisation of the DSE also rose to all-time high to BDT 4,124 billion, surpaasing the previous record of BDT 4,121 billion recorded on Sunday last.

The losers, however, took a marginal led over the gainers as out of 331 issues traded, 174 closed lower, 125 higher and 32 remained unchanged on the DSE trading floor.

LankaBangla Finance topped the day’s turnover chart with 10.60 million shares of BDT 689 million changing hands, followed by Al-Arafa Islami Bank, City Bank, First Secirity Islami Bank, Prime Bank.

Rupali Bank was the day’s best performer, posting a gain of 9.85 percent while Legacy Footwear was the day’s worst loser, plunging by 7.93 percent.

CHITTAGONG STOCK EXCHANGE:

The port city bourse Chittagong Stock Exchange (CSE) also returned to higher with its Selective Categories Index – CSCX – gaining 83 points to close at 11,595.

Losers beat gainers as 110 issues closed lower, 136 higher and 19 remained unchanged on the CSE.

The port city bourse traded 27.49 million shares and mutual fund units worth more than BDT 779 million in turnover.

BBN/SS/ANS