Turnover on the Dhaka Stock Exchange hit a two-month high yesterday as high investor participation pulled trade volume up. Daily turnover on the prime bourse stood at Tk 1,524.38 crore, up Tk 181.30 crore from the previous day.
Soaring investor participation fuelled trade volume and as a result, turnover rose, said a stockbroker.
The benchmark general index of the DSE advanced by 58 points, or 0.90 percent, to close at 6,470 points. The general index of the DSE gained 158 points all together on the last two days of trade on the premier bourse.
The selective categories index of the Chittagong Stock Exchange gained 75 points, or 0.64 percent, to close at 11,723 points.
Market insiders said it is not a good trend that high-profile companies moved marginally, while low-profile companies traded unusually.
Investors pursued low-profile companies to book short-term profit, which might be harmful to small investors, said insiders.
Institutional investors adopted a wait-and-see approach while retail investors bought large volumes of shares on the day.
Saiful Islam, managing director of BRAC EPL Stock Brokerage Ltd and vice chairman of BRAC EPL Investments Ltd, said: “Investors regained their confidence and as a result, turnover increased on the day. Retail investors should stop investing in the low profile companies.”
Among all the major sectors, only the banks lost 2.19 percent while non-bank financial institutions gained 2.18 percent, pharmaceuticals 3.21 percent, fuel and power 2.97 percent and telecoms 0.11 percent.
Of the total 257 issues issue traded on the DSE, 188 advanced, 59 declined and four remained unchanged.
Beximco topped the list of turnover leaders with 38.92 lakh shares worth Tk 121 crore being traded on the day.
The other turnover leaders on the DSE were Bextex, United Airways, Peoples Leasing and Financial Services, Titas Gas, Aftab Automobiles, Makson Spinning Mills, Union Capital, Beximco Pharma and Golden Son.
Summit Alliance Port was the biggest gainer of the day on the DSE, posting a 9.99 percent rise in share prices, while First Lease Finance and Investment lost the most, slumping 9.73 percent.
United Airways decided to raise capital from the market, issuing rights shares worth Tk 20 each, including a premium of Tk 10. The company offered one rights share for every existing share.
Stakeholders will sit today on the Securities and Exchange Commission to finalise the reshuffle of the book-building method.
Courtesy of The Daily Star