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69% stocks jump as turnover tops Tk1,000cr again

Turnover at DSE stood at Tk1,122 crore on Thursday

Driven by the buying mode of investors, 69% of Dhaka stocks jumped, while the benchmark index and daily turnover maintained an uptick on Thursday.

A total of 394 stocks traded on the Dhaka Stock Exchange (DSE), of which 271 soared, 71 declined, and 52 remained unchanged.

However, the benchmark index, DSEX, increased by 90.65 points, or 0.98%, to 6,213, and turnover rose by 14% to Tk1,122.09 crore – exceeding Tk1,000 crore after a five-day break.

The country’s premier bourse opened higher as investors were active in buying shares and sustained the spirit till the closing bell.

EBL Securities, in its daily market commentary, said the capital bourse witnessed upbeat momentum in the final session of the week as buoyant investors continued their dominance in buying major scrips with positive expectations following favourable corporate earnings declarations for the recently ended quarter.

“Although indices remained flat in the first hour of the session, buyers took control of the trading floor in the subsequent period, prompted by the allure of potential quick gains owing to rebounding optimism across the trading board.”

The report reads that many investors decided to pour fresh funds into equities, adding further strength to the current rallies in sector-specific issues.

On the sectoral front, the engineering sector contributed the most by 19.1% in total turnover, followed by the pharmaceuticals sector by 13.7%, and textile sector stocks by 13.0%.

Most sectors displayed positive returns, out of which travel by 4.3%, ceramics by 4.0%, and services sector by 3.9% exhibited the most positive returns on the bourse.

Acme pesticides topped the gainer list with a gain of 10% to Tk25.3 each, followed by Navana CNG by 10% to Tk29.7 each, and Olympic Accessories by 9.94% to Tk18.8 each.

 

Source: The Business Standard

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