Stocks extend recovery for 3 days as turnover surges 16%
Turnover, one of the major market indicators, surged by 16% to Tk997.30 crore, up from Tk856.09 crore in the previous trading session, and majority of the stocks traded on the bourse observed price increase.
Stocks at the Dhaka Stock Exchange extended their recovery for a third consecutive session today (14 May) with gains recorded in most trading sessions of the week.
In the last trading session of the week, the DSE broad and Shariah indices closed marginally higher, while the blue-chip index fell by 9 points amid sell-offs.
Turnover, one of the major market indicators, surged by 16% to Tk997.30 crore, up from Tk856.09 crore in the previous trading session, and majority of the stocks traded on the bourse observed price increase.
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In the three sessions, DSEX, the benchmark index of the DSE gained 40 points but it lost 29 points in the first two-trading sessions of the week, the DSE data showed.
Of the traded stocks today, 199 stocks advanced, 144 stocks declined and 53 stocks remained unchanged.
EBL Securities in its daily market commentary said, the benchmark index of the DSE extended its recovery for a third consecutive session, as bargain hunters continued accumulating beaten-down stocks in anticipation of potential policy-level developments, despite dominant selling pressure emerging in the latter half of the session.
"Although the session started off with extended positive momentum from the previous session, sentiment weakened shortly afterward as profit-taking emerged, putting pressure on market indices, it said.
On the sectoral front, General Insurance accounted for the highest share at 18.6% of turnover, followed by Textile 14.1% and Pharma 11.5%.
Sectors mostly displayed mixed returns, out of which financial Institution, Ceramic and Life Insurance exhibited the most positive returns, while Food, IT and Jute displayed the most corrections on the bourse today.
Eastland Insurance topped the gainer chart as its shares price jumped by 10% to Tk26.4 each, followed by ICB by 9.94%, Rupali Insurance by 9.92%, ML Dyeing by 9.89% and Shinepukur Ceramics by 9.81%.
While International Leasing and Financial Services topped the loser list as its shares price fell by 10% to Tk1.8 each, followed by Premier Leasing by 8% to Tk2.3 each, Prime Finance by 6.45% to Tk2.9 each, Phoenix Finance by 5.71% to Tk3.3 each, and Fareast Finance by 5.28% to Tk1.8 each.
