The Dhaka Stock Exchange on Sunday witnessed a surge in its turnover, surpassing the Tk听900-crore mark after 55 days, as optimistic investors continued to buy low-priced scrips after a prolonged market fall, market operators said.
The total turnover of the Dhaka bourse on the day stood at Tk 908.77 crore, an increase by more than Tk听130 crore than the previous session.
Before Sunday, the DSE posted its turnover above the Tk听900-crore mark on May 13, standing at Tk听968.02 crore.
The turnover on the Dhaka bourse in the previous session, July 4, was Tk听770.70 crore.
The key index of the Dhaka bourse, DSEX, too on Sunday witnessed a surge and hit a 54-day high.
The key index of the DSE increased by 61.38 points, or 1.11 per cent, to close at 5,558.94 points on the day, after adding 123.71 points in the previous session.
Before Sunday, the key index posted its highest on May 14, at 5,585.61 points.
The key index on Sunday saw a hike at the start of the session, but fell immediately.
Then it started to rise again and maintained the positive trend till the end of the session, ultimately finishing in the green territory.
Market operators said that after the recent correction, the market came down to such a point that a little positive momentum would help it surge.
A recent IPO refund may have helped the market, as investors injected fresh funds into the market, they said.
They also mentioned that many investors sold their shares before the end of the financial year 2023-24 for various reasons, and reinvested funds in the secondary market after the start of the new financial year.
The news of government allowing its employees to trade in shares may have been a positive influence on the market, they added.
In the past 20 weeks, the DSE moved forward in only six weeks.
Of the 398 issues traded on Sunday, 305 advanced, 69 declined and 24 remained unchanged.
The DSE Shariah index increased by 6.13 points, or 0.50 per cent, to close at 1,214.83 points on the day.
The DS30 index gained 13.15 points, or 0.67 per cent, to finish at 1,964.49 points.
On the sectoral front, pharmaceutical issues exerted the highest turnover, followed by the food and bank shares.
EBL Securities in its daily commentary said, 鈥楾he market recovery has been aided by continued price appreciation in the majority of stocks as investors kept on chasing quick rallies owing to heightened optimism across the trading board. However, a portion of investors opted for profit booking since they preferred to observe the sustainability of the current upbeat vibe on the market.鈥�
Sea Pearl Beach Resort & Spa topped the turnover chart on the day with its shares worth Tk 34.56 crore changing hands.
British American Tobacco Bangladesh, Orion Pharma, Salvo Chemical Industry, Asiatic Laboratories, Taufika Foods and Lovello Ice-cream, Sonali Paper & Board Mills, Far East Knitting & Dyeing Industries, eGeneration and Rupali Life Insurance were the other turnover leaders.
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