Dhaka stocks rebounded on Monday after a fall in the previous trading session with turnover hitting its three and a half months high due to sudden increase in some scrip-wise investments, mostly by the institutional investors. DSEX, the key index of Dhaka Stock Exchange, gained 1.04 per cent, or 46.38 points, to finish at 4,467 points on Monday. The turnover at the DSE increased to Tk 560.49 crore on the day, highest since Tk 673.60 crore on April 24 this year. The turnover was Tk 428.71 crore on Sunday.
Market operators said scrip-wise investment, mostly by the institutional investors, was the main reason for the sudden rise in turnover.
Top ten trading companies captured one-third of the day’s turnover with the total turnover of the companies standing at Tk 225.44 crore on Monday.
Grameenphone led the turnover leaders with its shares worth Tk 46.81 crore changing hands.
BEXIMCO, Square Pharmaceuticals, Lafarge Surma Cement, The Peninsula Chittagong, Golden Son, Shahjibazar Power Compnay, ACI Limited, Meghna Petroleum and MJL Bangladesh were among the other turnover leaders.
On the other hand, fresh positioning by the institutional investors after the half-yearly closing was another reason for the sharp rise in turnover, operators said.
Most of the institutional investors were almost inactive on the trading floor after half-yearly closing share sell-offs.
Besides, half-yearly statements by the listed companies also prompted investors to switch one stock to another which was another reason for the increased turnover at the bourse, operators said.
DS30, the blue-chip index of the bourse, closed at 1,654.99 points, adding 1.46 per cent or 23.89 points.
The Shariah index of DSE, DSES, finished at 1,022.47 points, increasing by 1.41 per cent or 14.22 points.
Of the 298 shares and mutual funds traded on the day, 179 advanced, 81 declined and 38 remained unchanged.
‘Triggered by selective stock-specific focus, the bourse moved ahead with a hype of 46.39 points to close DSEX at 19 sessions’ peak of 4,467.00 points,’ IDLC Investments said in its daily market commentary.
Alongside, volatility prolonged with more stocks being in positive territory, indicating a search for worthwhile spread in undervalued stocks, it said.
-With New Age input
