Dhaka stocks turnover tops Tk 12bn for first time in a year despite market swings

Turnover surges while gains are driven largely by low-cap and disputed firms

Turnover on the Dhaka Stock Exchange has crossed Tk 12 billion for the first time in more than a year, although the benchmark index edged up by only 14 points.

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

The last time turnover exceeded Tk 12 billion was on Aug 14 last year, when transactions hit Tk 12.44 billion and the index had jumped 84.81 points to 5,952.

Despite similar trading volume, Sunday’s session brought only modest gains. DSE data showed that most of the top 10 gainers were low-cap and controversial companies.

Trading began with strong buying interest, but about an hour later selling pressure pulled the index into correction until around 11:30am. Renewed buying lifted the market again, helping it regain lost ground and finish on a positive note.

By the close, the number of losing and gaining firms was nearly equal. Turnover stood at Tk 12 billion, sharply higher than Tk 7.67 billion the previous day.

Alif Industries, Information Services Network and Paramount Textiles, all previously at the centre of controversy, topped the list of gainers. South Bangla Agriculture Bank, Union Capital and Apollo Ispat suffered the steepest losses.

Of 400 traded companies, 184 advanced, 190 declined and 26 remained unchanged.

The textile sector dominated turnover with Tk 1.95 billion, followed by pharmaceuticals and chemicals at Tk 1.78 billion, and insurance with Tk 1.04 billion.