Turnover at Dhaka Stock Exchange hits one-year high
The spike in trading activity was primarily concentrated in the textile, pharmaceutical, and general insurance sectors
The Dhaka Stock Exchange (DSE) experienced a significant surge today (24 August), with turnover reaching a one-year high, signalling a notable increase in investor confidence and market participation.
According to market insiders, the upward momentum that began late last week continued strong, as turnover soared by 57% to Tk1,200 crore.
This marks the highest turnover since 14 August 2024, when it reached Tk1,244 crore.
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The spike in trading activity was primarily concentrated in the textile, pharmaceutical, and general insurance sectors.
The textile stocks alone accounted for 16.4% of the day's turnover, followed by pharmaceuticals at 15% and general insurance at 8.8%.
Top turnover leaders included Malek Spinning, Beximco Pharma, Bangladesh Shipping Corporation, Beach Hatchery, and Alif Industries, all of which attracted strong buying interest.
DSEX, the benchmark index, advanced by 14.2 points to close at 5,389, breaking a three-day losing streak. The blue-chip index, DS30, also gained 12 points, ending at 2,101. However, the Shariah-based index, DSES, saw a slight drop as it closed at 1,179 points.
While 184 issues advanced, 190 declined, and 26 remained unchanged out of the 400 traded, analysts noted that investor enthusiasm was uneven. Banking stocks, despite their significant market weight, remained under pressure.
EBL Securities, in its daily market review, stated that while the Dhaka bourse showed resilience, the "subdued momentum in the heavyweight bank stocks kept the rally in check."
On the sectoral front, the paper, life insurance, and textile sectors led the way with gains of 4.7%, 4.6%, and 3.6%, respectively.
Conversely, mutual funds, ceramics, and banks dragged the index down, posting losses of 1.6%, 1%, and 1.8%, respectively.
Notable gainers for the session included Alif Industries, which jumped by 9.96%, and Information Service Network, Paramount Textile, and Crystal Insurance -- all of which advanced by about 10%.
The list of top losers was led by Social Islami Bank, which slid by 9.83%, followed by Union Capital, Appollo Ispat, Bay Leasing, and Emerald Oil.
The Chittagong Stock Exchange (CSE) also ended the day positively, with its Selective Categories Index (CSCX) rising by 33.5 points and the All-Share-Price-Index (CASPI) gaining 32.6 points, mirroring the upbeat sentiment of the Dhaka bourse.
