DSE turnover soars to Tk 2,100cr level after 10 months

The Dhaka Stock Exchange’s turnover on Sunday rose to Tk 2,100 crore-level on buying binge mainly from the institutional investors.

This is the record turnover this year and biggest in 10 months, as institutional investors pumped funds into the market taking advantage of the floor price of shares set by the securities regulator two months back.

At the end of the day, turnover stood at over Tk 2,105 crore, which is about Tk 400 crore away from the record turnover of Tk 2,497 crore seen in October 7, 2021.

Fresh funds were injected by the institutional investors because of various factors such as the floor price, and calculating share purchases at cost prices by banks and financial institutions, said a top dealer.

Amid the bullish mood, the benchmark DSEX index was up 46 points or 0.73 per cent to close at 6,355.

The blue-chip index DS30 saw a fractional loss of 0.2 points to 1,390 while the DSES index, which represents Shariah-based companies, rose marginally 3 points or 0.16 per cent to 2,271.

“Dhaka stocks skyrocketed for the second consecutive session, with turnover reaching a 10-month high as optimistic investors continued to inject fresh funds amid growing confidence in the market due to positive expectations across the bourse,” said EBL Securities in its post market commentary.

On the sectoral front, textile (17.5 per cent) issues exerted the highest turnover, followed by pharma (12.6 per cent) and engineering (11.2 per cent) stocks.

Almost all the sectors displayed positive returns, out of which services (3.3 per cent), general insurance (3.1 per cent) and ceramic (2.1 per cent) exerted the highest returns on the bourse today, while jute (-2.2 per cent), cement (-0.9 per cent) and pharma (-0.4 per cent) exerted some correction at the end of the session.

Out of the 386 issues traded, 219 advanced, 102 declined, and 61 remained unchanged.

The port city bourse, CSE, also settled on green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 109.5 and 180.4 points respectively.