Stock Market: Turnover at DSE hits one-year high

Business Report:

The Dhaka Stock Exchange (DSE) experienced a significant surge on Sunday with turnover reaching a one-year high, witnessed 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 57per cent to Tk1,200 crore.

This marks the highest turnover since 14 August 2024, when it reached Tk1,244 crore.

The spike in trading activity was primarily concentrated in the textile, pharmaceutical, and general insurance sectors.

The textile stocks alone accounted for 16.4per cent of the day’s turnover, followed by pharmaceuticals at 15per cent and general insurance at 8.8per cent.

Top turnover leaders included Malek Spinning, Beximco Pharma, Bangladesh Shipping Corporation, Beach Hatchery, and Alif Industries, all of which attracted strong buying interest.

The key DSE index closed at 5,389 points on Sunday, compared with 5,374 the previous day.

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.