DSE turnover hits 2-month high amid rally for 6th day

The indices of the Dhaka Stock Exchange (DSE) continued their upward momentum for six consecutive sessions as investors maintained their buying mode in lucrative items.

As a result, the turnover rose by 14.62% to Tk1,019 crore from Tk889 crore on Tuesday (9 July) compared to the previous session, crossing the Tk1,000 mark for the first time in two months. On 7 May this year, the turnover was Tk1,108 crore.

The prime index of the Dhaka bourse, DSEX, crossed the 5,600 mark after eight weeks, rising by 30 points to settle at 5,595. The blue-chip index, DS30, also increased by 5 points to reach 1,965 points, and the shariah-compliant stock index, DSES, went up by 8 points to 1,223 points.

Among the traded scrips, 237 advanced, 111 declined, and 45 remained unchanged during the trading session.

Salvo Chemical Industry topped the list of gainers, increasing by 10% to Tk50.60, followed by Kattali Textile by 9.93%, Beach Hatchery by 9.89%, HR Textile by 9.83%, Deshbandhu Polymer by 9.76%, Prime Finance First Mutual Fund by 9.71%, and The Peninsula Chittagong by 9.29%.

Rupali Life Insurance Company topped the list of losers, followed by National Life Insurance Company, Prime Bank 1st ICB AMCL Mutual Fund, Shyampur Sugar Mills, and Zeal Bangla Sugar Mills Ltd.

Sea Pearl Beach Resort & Spa, Capitec Grameen Bank Growth Fund, Beach Hatchery, Salvo Chemical Industry, Taufika Foods, and Lovello Ice-cream PLC were the most-traded stocks on the Dhaka bourse.

Market insiders say after the June closing, institutional investors reinvested funds in the capital market, boosting momentum with new fund injections as the blue-chip stocks are undervalued. They believe the domestic economy may grow in the next quarter, and savvy investors are positioning themselves ahead of positive economic signs.

EBL Securities in its daily market commentary said the premier bourse of the country continued its upward rally as increased market participation across the trading floor added further strength to the market’s recovery, with the benchmark index closing near the 5,600 mark after eight weeks.

Despite the market extending mild volatility until the first two hours of Tuesday’s session, optimistic investors dominated the trading floor, helping the market to resume its recovery mode, according to the commentary.

On the sectoral front, the pharma sector accounted for the highest 15.1% of the turnover, followed by textile with 12.2% and food with 11.2%. Most sectors displayed positive returns, with ceramic 2.8%, services 2.7%, and travel 2.2% exhibiting the most positive returns on the bourse Tuesday, while food 0.8%, paper 0.7%, and jute 0.5% exerted marginal corrections.

The port city bourse, Chittagong Stock Exchange, also settled on the green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 57.5 and 95.0 points, respectively.

The turnover on the bourse stood at Tk11 crore at the end of the session. Of the 281 issues traded, 173 advanced, 77 declined, and 31 remained unchanged.