Home ›› 28 Apr 2023 ›› Stock
The liquidation situation in the Dhaka Stock Exchange (DSE), the country’s prime bourse, has improved exponentially, as investor confidence has been restored owing to the ease of macroeconomic worries and efficacious corporate earnings.
Turnover, a crucial indicator of the market, reached Tk 967 crore on Thursday, a six-month high.
The yesterday’s turnover was 26.4 per cent higher than the tally of Tk 765 crore in the previous trading session.
Meanwhile, the DSEX, the benchmark index of the capital bourse, rose 7.7 points to settle at 6,274 points against 6,266 in the previous session.
Both the indices and the market turnover were becoming buoyant riding on price appreciation of some large-cap scrips with improved financial results, despite profit-booking pressures from risk-averse investors in recently rallied scrips, accord-ing to EBL Securities, a stockbroker.
Earlier, the securities regulator BSEC, to lend a hand to the depressed shares of fundamentally good companies with decent paid-up capital, recently eased the margin regulations. As a result, a scope has been created for good fundamental stocks to rise, inspiring investors to put funds into those shares.
Stockbrokers and analysts said after a long spell of market volatility, a sentiment grew among investors that the market would turnaround, enticing them to put fresh funds in the market in hope of good returns.
Besides, most listed companies were now presenting healthy corporate earnings in the latest quarter, raising further hope about the market recovery, they added.
Moreover, the global macroeconomic situation is now on the way to a recovery path form what the Russia-Ukraine war had cast a shadow over the global economy and supply chain, analysts say.
Following the growing optimism, investors who once had been on the sidelines, now began to take fresh bets into equities, several stockbrokers said.
The food and allied sector topped the turnover chart with a contribution of 16.2 per cent of the total turnover of the DSE, followed by bank (13.1 per cent) and IT (12.6 per cent).
Genex Infosys Limited was the day’s most traded stock with Tk 45 crore worth of its shares changing hands, followed by Unique Hotel & Resorts PLC, and Bangladesh Shipping Corporation.
Most sectors displayed positive returns, with the jute posting the highest gain of 4.9 per cent, followed by paper (2.6 per cent) and IT (1.0 per cent).
On the other hand, the travel sector faced the highest correction of 3.8 per cent, followed by services (1.7 per cent) and tannery (0.4 per cent).
IT Consultants Limited topped the DSE’s gainer list with a return of 8.8 per cent, while Uttara Bank Limited was the day’s worst sufferer with a loss of 12.4 per cent. Out of the issues traded, 79 advanced, 62 declined and 251 remained unchanged on the DSE trading floor.
