DSE turnover surges by 144%

The number of transactions in the capital market increased by 144% this week compared to the previous week.

Although the previous week had three trading days against five trading days this week, the latest direction to the capital market given by the BSEC reduced the trading hours in the middle of last week for power saving.

The DSE’s flagship index, the DSEX, rose 1.82 per cent in the five-day trade. It increased by 1.52 per cent compared to the previous week.

The equity indices of the prime bourse have witnessed four positive trading sessions this week owing to the slight mitigation of investors’ concern regarding the future pessimistic outlook of the economy, according to the stock market insider.

However, it is a matter of hope that thousands of crores of Taka were traded every day of the last five days of the week in such a situation. As a result, the average transaction was Tk 1,386 crore, up from Tk 946 crore the previous week.

The Bangladesh Securities and Exchange Commission (BSEC) has already increased the minimum investment for IPO applications from Tk 20,000 to Tk 50,000. As a result, those who apply for the IPO must confirm a Tk 50,000 investment by September 13.

According to market participants, the volume of transactions may increase due to the measures taken by the regulator.

Gradual stabilization of the exchange rate through different measures taken by the central bank along with discussions regarding import of fuel from Russia have positively impacted the investor’s sentiment and kept them optimistic regarding the market thorughout the week, Said the EBL Securities.

DSEX, the broad index of the Dhaka Stock Exchange, increased by 113 points or 1.8 per cent and settled at 6,355 points.

In addition, the average turnover has soared by 63.6 per cent in this week to Tk 13,868 million, as against Tk 8,476 million in the previous week.

Investors were active primarily in Textile (16.8 per cent), Pharmaceutical (13.4 per cent), and Miscellaneous (12.6 per cent) sectors. All the sectors, except Miscellaneous (-0.2 per cent) and Mutual Fund (-0.2 per cent), exhibited positive returns this week with the Service sector showing the highest positive return (11.2 per cent), followed by Financial Institutions(6.1 per cent) and Paper & Printing (5.4 per cent).