DSE turnover jumps 62% to Tk921cr

On the second trading session with price floor yesterday, spontaneous buyers and sellers helped increase the Dhaka Stock Exchange (DSE) turnover by 62% to Tk921 crore.

Many people involved in the capital market feared that the floor price enacted from Sunday would create a liquidity crisis, but yesterday's increase in turnover relieved their worries. 

The equity indices of the Dhaka bourse extended their gains riding on the restored investor confidence, the EBL Securities wrote in their daily market commentary on Monday. 

The market carried on its upward momentum right from the start of the trading session as bargain hunters continued to look for downbeat stocks resulting from the recent price erosions due to the current macroeconomic tensions. 

However, the morning optimism faded a bit as some investors perceived it as an opportunity to offload their holdings. 

DSEX, the prime index of the DSE, increased by around 30 points or 0.49% to 6,164 at the closing time, which shot to over 6,190 at 11am yesterday. 

The recent announcements from the Bangladesh Bank about declining LC openings and a two-year high remittance inflow in July have somewhat reduced the stress on the country's foreign exchange reserves and helped to tame the investors' pessimism. 

On the sectoral front, textile contributed the maximum of nearly 28% to the day's turnover, followed by the miscellaneous and pharmaceuticals sectors. 

Most of the sectors displayed positive returns yesterday. Among them, services and real-estate, ceramic, and textile exerted the highest returns on the bourse, while general insurance, tannery and jute suffered the maximum correction. 

Out of the 386 issues traded yesterday, 203 advanced, 102 declined, and 81 remained unchanged in the DSE.

Chittagong Stock Exchange, the port city bourse, also, settled in green terrain.