Textile firms lead DSE turnover in first half of September

Sharp Industries, Malek Spinning and Envoy Textile top DSE trading chart.

Textile companies dominated the Dhaka Stock Exchange (DSE) turnover chart in the first half of September, with three firms each recording more than Tk200 crore in share trades, according to the bourse’s fortnightly report.

Sharp Industries, a B-category company, topped the turnover chart among the DSE’s top 20 stocks, followed by A-category Malek Spinning Mills and Envoy Textile. B-category Saiham Textile and Saiham Cotton Mills, and A-category Paramount Textile also ranked among the top turnover generators.

Sharp Industries recorded Tk245.86 crore in trading value, accounting for around 4% of the DSE’s total turnover during the period. It also topped the volume chart, with 12.04 crore shares changing hands, or 5.44% of all traded shares.

Malek Spinning Mills recorded Tk213.62 crore in turnover, followed by Envoy Textile at Tk208.27 crore, Saiham Textile at Tk201.24 crore, Saiham Cotton Mills at Tk190.05 crore and Paramount Textile at Tk159.57 crore.

During the 11 trading sessions through 15 September, total DSE turnover stood at Tk6,382.80 crore, with average daily turnover at Tk580.25 crore.

The benchmark DSEX index fell 125.62 points to close at 5,598 on 15 September.

In terms of share prices, Bangladesh National Insurance emerged as the top gainer, with its share price rising 29.84% to Tk138.80 from Tk106.90 at the start of September.

It was followed by Phoenix Finance First Mutual Fund, up 28.68% to Tk17.50; Exim Bank First Mutual Fund, up 25.42% to Tk7.40; Mercantile Islami Insurance, up 24.75% to Tk50.40; and AIBL First Mutual Fund, up 22.92% to Tk5.90.

Sharp Industries, despite leading turnover, suffered the biggest decline among the top 20 stocks, with its share price falling 23.43% to Tk18.30.

Information Services Ltd followed with a 23.12% decline to Tk42.90, while Orion Infusion fell 19.72% to Tk176.70.

Source: The Business Standard