Indices extend gaining spell amid higher turnover
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February 07, 2023

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TUESDAY, FEBRUARY 07, 2023
Indices extend gaining spell amid higher turnover

Stocks

TBS Report
13 August, 2020, 08:45 pm
Last modified: 13 August, 2020, 08:55 pm

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Indices extend gaining spell amid higher turnover

Banking stocks contributed the highest 17 percent to the total turnover

TBS Report
13 August, 2020, 08:45 pm
Last modified: 13 August, 2020, 08:55 pm
Indices extend gaining spell amid higher turnover

Indices of the country's bourses extended their gains on Thursday amid a surge in turnover as investors started to gain confidence in the stock market.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained 1.50 percent or 69.94 points to close at 4,703 after more than eight months.

Turnover at the premier bourse increased 8 percent to Tk1,207 crore, indicating a vibrant market amid the decreased interest rate and improved money market liquidity.

According to the Bangladesh Bureau of Statistics (BBS), the country's investment to gross domestic product (GDP) ratio rose in the just-concluded fiscal year, stated the daily stock market report of Lankabangla Securities Ltd.

This development is inexplicable since most of the indicators were pointing towards a contrary scenario, the report added.

The report further added that real private investment increased 6.3 percent and public investment increased 7.9 percent. The import of capital goods decreased 18.9 percent which would make the increase in investment difficult to achieve.

Export earnings stood at $3.1 billion in July, which was the highest amount in a month. Also, the remittance inflow hit a record $2.6 billion and the foreign currency reserve jumped to $37.29 billion in July.

Analysts from different teams have also linked the recently increased money market liquidity to the interest rate decline.

At the sector-wise turnover distribution board, banking stocks contributed the highest 17 percent to the total turnover. The sector was followed by pharmaceutical stocks adding 14.3 percent and general insurance stocks adding 13.2 percent.

Most of the sectors witnessed price appreciation on Thursday. The general insurance sector posted the highest 7.09 percent, while banks followed with more than four percent gains in market capitalisation.

Pharmaceuticals and engineering sectors faced some minor corrections.

Out of 355 issues, 204 gained, 130 lost, and 21 remained unchanged on the DSE trading floor.

The port city bourse, Chittagong Stock Exchange, also registered an upward trend with an over 1 percent jump on all the indices.

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