The Financial Express

DSE turnover hits nearly three-month high

Stocks stay afloat riding on regulatory support

| Updated: August 04, 2022 16:46:07

DSE turnover hits nearly three-month high

Stocks extended the winning streak on Tuesday with a turnover on the prime bourse hitting almost three months high as buoyant investors are putting fresh funds on stocks riding on regulatory support.

Turnover, a crucial indicator of the market, stood at Tk 11.83 billion on the country’s premier bourse, in a further buck by 28 per cent over the previous day’s tally of Tk 9.22 billion.

Along with rising turnover, the prime index of the DSE, soared 85.24 points or 1.38 per cent to settle at 6,249.

Two other indices also closed higher. The DS30 index, comprising blue chips, rose sharply by 30.01 points to finish at 2,234 and the DSE Shariah Index (DSES) soared 1,527 points to close at 1,362.

Market operators said stocks kept gaining as buying spree added strength to the equity indices after the securities regulator reintroduced the floor price mechanism to stop the free fall.

The market witnessed a substantial increase in participation as the investors put fresh funds on lucrative issues hoping that the market will not fall further due to the floor price system, said a merchant banker.

Gainers took a strong lead over the losers, as out of 382 issues traded, 290 advanced, 36 declined and 56 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group-continued dominated the turnover chart with shares worth Tk 903 million changing hands, followed by Fortune Shoes, Delta Life Insurance, Sonali Paper & Board Mills and Malek Spinning Mills.

Tamijuddin Textile Mills was the best performer, posting a gain of 9.97 per cent while Envoy Textile was the worst loser, losing 3.94 per cent.

The Chittagong Stock Exchange also kept rising with its All Shares Price Index (CASPI)—soaring 206 points to finish at 18,318 while the Selective Categories Index – CSCX rising 123 points to close at 10,975.

Of the issues traded, 193 advanced, 37 declined and 67 issues remained unchanged on the CSE.

The port city bourse traded 6.15 million shares and mutual fund units with a turnover value of nearly Tk 170 million.

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