DSEX inches up as turnover crosses Tk920cr

Amid the ongoing volatility, major equity indices of the Dhaka and Chattogram bourses managed to stay afloat on Sunday.

Investors' increased trading appetite in a number of trendy stocks helped the daily turnover at the Dhaka Stock Exchange (DSE) increase to more than Tk920 crore for the first time in nearly a month.

However, the recent tendency of the indices to open and travel higher with the buying spree, and then face a correction before the closing bell amid an adjustment pressure continued for the fifth consecutive session on Sunday.

Stockbrokers said active traders were desperately chasing the rapidly surging stocks that were taking off the floor prices. And to pay the price of the newly bought shares, many investors were selling off other scrips expected to run slower.

There also had been some profit-booking pressures from cautious investors who preferred to remain watchful due to a weakened market strength, according to the daily market commentary by EBL Securities.

The recent increase in interest rates and dollar price made many conservative investors watchful ahead of the upcoming earnings declaration season.

On the sectoral front, textile, food, and banking stocks contributed to around one-fourth of the DSE turnover.

IT, ceramic, and services were the gaining sectors as their market capitalisations increased by 0.91%, 0.89% and 0.6% in that order.

On the other hand, life insurance, travel, and general insurance sectors faced the biggest corrections ranging from 0.7% to 2%.

94 scrips advanced, 104 declined in the DSE on Sunday.

CSCX, the broad-based index of the Chittagong Stock Exchange inched up by 0.06% to 11,194, while turnover in the port-city bourse came down to Tk16.5 crore from Tk21.2 crore.