Stock turnover rises sharply amid price swings
Turnover at Dhaka Stock Exchange (DSE) increased sharply yesterday as resilient investors put fresh bets on lucrative blue-chip stocks amid price movements.
Turnover, which indicates the total value of shares trading on the trading floor, increased 67.84 percent from that on the preceding day to stand at Tk 807.15 crore.
Data of the country's premier bourse showed that the participation of the investors was considerably higher as they were highly optimistic, especially on the return of good governance, centring the appointment of a new chairman to the market regulator.
The interim government appointed Khondoker Rashed Maqsood as chairman of the Bangladesh Securities and Exchange Commission (BSEC) on Sunday, a day after M Masrur Reaz, an economist, declined to take on the role.
However, the benchmark index of the DSE, edged down by 3.15 points, or 0.05 percent, to close at 5,775.49, marking a fall for the third consecutive day.
The DS30 index for the blue-chip firms also went down by 5.47 points, or 0.26 percent, to 2,121.14.
However, the DSES, the index for the Shariah-compliant companies, grew 5.97 points, or 0.48 percent, to 1,246.15.
Chittagong Stock Exchange also saw a downtrend as its all-share price index, the main index of the port city bourse, plunged 99.23 points, or 0.59 percent, to settle the day at 16,616.13.
Of the issues that changed hands on the trading session, prices of 119 advanced, 247 declined and 30 did not witness any price swings.
Sector-wise, jute, travel and leisure and bank became the top three to close in the positive, according to the daily market update by UCB Stock Brokerage.
Meanwhile, telecom, life insurance and non-bank financial institutions (NBFIs) were the top three sectors to close in the negative.
The banking sector dominated the turnover chart, accounting for 23.96 percent of the day's total market turnover.
Sectors which account for large amounts in market capitalisation, which refers to the total value of their shares at present, posted a mixed performance, according to the day's market update by BRAC EPL Stock Brokerage.
Banks booked the highest gain of 0.37 percent, followed by pharmaceuticals (0.22 percent), food & allied (0.16 percent), and fuel & power (0.07 percent).
The engineering sector logged a loss of 0.74 percent, while NBFI and telecommunication recorded a fall of 1.56 percent and 2.92 percent respectively.
The contribution of block trades, meaning high volume transactions in securities that are privately negotiated and executed outside of the open market, was 2.8 percent of the overall market turnover.
Grameenphone was the most traded share with a turnover of Tk 81.1 crore.
Shares of companies like Islami Bank Bangladesh, Square Pharmaceuticals, Beacon Pharmaceuticals, BRAC Bank, Shahjalal Islami Bank, Midland Bank, Olympic Industries, Padma Oil and Trust Bank drew the investors the most, according to LankaBangla Financial Portal.
Grameenphone, Beximco Pharmaceuticals, National Bank, Robi Axiata, Pubali Bank, Al-Arafah Islami Bank, IFIC Bank, Renata, Orion Pharma and Heidelberg Materials Bangladesh staged a poor performance.
GQ Ball Pen Industries took pole position on the gainers' chart with a rise of 9.63 percent.
Standard Bank, Midland Bank, Associated Oxygen, Dulamia Cotton Spinning Mills and JMI Hospital Requisite Manufacturing showcased a strong performance.
Al-Haj Textile Mills, Beacon Pharma, Jute Spinners, Kay & Que Bangladesh and Shahjalal Islami Bank were also on the gainers' list.
Taufika Foods and Lovello Ice-cream shed the most, losing 2.99 percent.
Mozaffar Hossain Spinning Mills, Mutual Trust Bank, Orion Infusion, Hami Industries and Heidelberg Materials Bangladesh also suffered losses.
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