DSE turnover hits 3-month high
Stocks
The turnover at the Dhaka Stock Exchange (DSE) jumped 20% to Tk1,406.96 crore – the highest in the last three months – on Sunday.
Earlier, on 25 January, the Dhaka bourse recorded a turnover of Tk1,585 crore.
DSEX, the benchmark index of the DSE, also crossed the psychological threshold of 5,500-mark by gaining 0.68% on Sunday, compared to the previous session.
The Shariah index DSES increased by 0.42% to settle at 1,255 points and the blue-chip index DS30 gained 0.58% to reach 2,123 points.
According to the daily market commentary by EBL Securities Ltd, "Investors focused on the financial disclosures, as they assumed that impact on businesses will be less critical than last year thanks to the continuation of industrial activities during the ongoing lockdown."
"Overall, the participants displayed a portfolio restructuring strategy while many investors rushed to participate in the hyped-up insurance sector as it gained substantially during the rally," the commentary added.
The general insurance sector contributed the highest 38.08% to the DSE's total turnover. The sector saw a meagre 1% gain, but most of the insurance companies declared the same dividend compared to the previous year.
Padma Life Insurance secured the top position with 23.91% gain in share price in the top ten gainers' list. The company has declared a 2% interim cash dividend for the first quarter of this year.
Meanwhile, investors received the highest return of 6.3% from the textile sector as most of the companies of this sector saw positive growth in the third quarter despite the coronavirus pandemic shock.
Following the price surge, eight textile companies took place on the top ten gainers' list, where Generation Next and Makson Spinning each saw the highest gain of 10%.
In the scrip-wise turnover chart, Beximco Limited secured the top position by contributing 19.7% to the DSE's total turnover.
On Sunday, the share price of 180 securities advanced, 104 declined and 77 remained unchanged at the DSE.
At the Chittagong Stock Exchange (CSE), CASPI also rose by 128 points to reach 15,973.
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