Dhaka stocks open week higher as DSEX rises, but turnover slips

The Dhaka Stock Exchange (DSE) began the new trading week today (23 November) on a positive note, with all major indices advancing significantly, although overall turnover saw a noticeable decline.

DSEX, the benchmark index of the Dhaka bourse, advanced by 47 points, buoyed by gains in large-cap and several blue-chip stocks. According to DSE data, nearly 65% of traded issues saw price increases as investors remained largely active on the buying side.

Turnover, a key indicator of market participation, dropped by 13% to Tk386 crore. Despite the lower turnover, market capitalisation rose by Tk2,597 crore to Tk6.84 lakh crore.

Trading opened with selling pressure, briefly pushing the indices into negative territory. However, within 16 minutes, the market rebounded as buying interest strengthened. After continued fluctuations throughout the session, the indices saw a sharp rise after 1:10pm, with DSEX closing 46 points higher.

Other indices also closed higher, as the DSE Shariah Index (DSES) surged by 9.41 points to 1,027, while the DS30, the blue-chip index, advanced by 5.48 points to 1,883.

Al-Arafah Islami Bank topped the list of positive index contributors, followed by National Bank, Square Pharmaceuticals, Pubali Bank, and IFIC Bank. 

In contrast, Kohinoor Chemicals dragged the index the most, followed by Islami Bank, BRAC Bank, Shahjalal Islami Bank, and Renata.

A total of 381 securities were traded yesterday. Among them, 250 issues advanced – including 135 from the A category, 56 from the B category, and 58 from the Z category.

Of the 35 mutual funds, only five gained, 23 declined, and seven remained unchanged. Three corporate bonds were traded, with prices of two advancing and one declining.

Fas Finance topped the gainers' chart as its share price jumped by 10.09% to Tk1.2 each, followed by Pragati Life Insurance (9.97% to Tk156.6), Sunlife Insurance (9.95% to Tk51.9), and Intech Limited (9.95% to Tk25.4).

Meanwhile, Kohinoor Chemicals led the losers, falling by 9.90% to Tk505.1 each, followed by Energypac (down by 7.95% to Tk16.2), RSRM Steel (down by 6.78% to Tk5.5), Meghna Cement Mills (down by 5.17% to Tk27.5), and Anlima Yarn (down by 4.78% to Tk18).
Last week, stocks gained in four of the five trading sessions, adding a total of 166 points to the DSEX, with only one session ending lower due to selling pressure. 

The average turnover for the week also increased by 12.19% to Tk397 crore.