Mixed Market Trends See Increase in Turnover
Photo: Agamir Somoy
On the first working day of the week, the country's stock market experienced a mixed trend in indices, though turnover saw a slight recovery. Despite a decline in the share prices of most companies, the total turnover increased, signaling partial activity in the market.
Market analysis suggests that this mixed performance was primarily a result of varying sectoral performance. While the main index remained positive due to price hikes in several large-cap companies, the decline in the majority of share prices indicates underlying pressure. This suggests that a lack of confidence persists among investors, who are being highly selective with their investments.
On the other hand, the increase in turnover is a sign of returning liquidity, though there are doubts about whether this trend is sustainable. The dominance of a few specific companies on the top turnover list proves that broad participation has not yet materialized. Consequently, restoring investor confidence and increasing institutional investment are essential for a stable upward trend.
At the close of the day on Sunday (April 26), the DSE Broad Index (DSEX) rose by 17 points to stand at 5,316. Meanwhile, the DSE Shariah Index (DSES) fell by 1 point to 1,065, and the DSE 30 Index increased by 11 points to reach 2,026.
Of the 391 companies and mutual funds traded throughout the day, 157 saw price increases, 172 declined, and 62 remained unchanged. The DSE recorded a turnover of Tk982.42 crore, which is Tk97.80 crore higher than the previous working day's turnover of Tk 884.62 crore.
On the other hand, the Chittagong Stock Exchange (CSE) overall index, CASPI, rose by 44 points to stand at 14,876. A total of 221 institutions participated in trading at the CSE, with 97 seeing price hikes, 96 declining, and 26 remaining unchanged. The CSE recorded a turnover of Tk23.58 crore in shares and units.
Meanwhile, Domineage Steel Building Systems Limited emerged as the top-traded company at the DSE, with shares worth Tk43.48 crore changing hands. City Bank secured the second spot with a turnover of Tk35.76 crore, while Acme Peoples Insurance Company Limited took the third position with Tk22.28 crore in turnover.
Other companies on the top turnover list included Taufika Foods and Lovello Ice-Cream, Asiatic Laboratories Limited, Saif Powertec Limited, Khan Brothers PP Woven Bag Industries Limited, Acme Pesticide Limited, Sino Bangla Industries Limited, and Anwar Galvanizing Limited.