Written by The Banking Post
Daily turnover on the Dhaka Stock Exchange (DSE) crossed Tk 12 billion on Sunday for the first time in over a year, reflecting renewed investor confidence and fresh fund inflows into fundamentally strong stocks.
Turnover stood slightly above Tk 12 billion, a 56% jump from the previous session’s Tk 7.67 billion. It was the highest single-day transaction since August 14 last year, when turnover hit Tk 12.44 billion.
Market insiders attributed the surge to improving macroeconomic indicators—rising foreign exchange reserves, remittance and exports—alongside attractive valuations of oversold stocks. High-net-worth individuals were also seen injecting fresh funds into selective shares following recent rallies.
Yields on government securities continued to fall, further boosting equity sentiment. The cut-off rate on 91-day T-bills slipped to 10.12% from 10.14% earlier, while the 182-day T-bill yield dropped to 10.29% from 10.35%. “When the interest rate falls, the equity market gets a boost,” said Akramul Alam, head of research at Royal Capital.
The benchmark DSEX index rose 14 points, or 0.26%, to close at 5,389, snapping a three-day losing streak. The DS30 blue-chip index gained 12 points to 2,101, while the Shariah-based DSES index edged down 0.81 point to 1,179.
EBL Securities noted that the rebound was driven by fresh buying in major stocks, though weak momentum in bank shares capped the rally. Key gainers included Beximco Pharma, Beacon, City Bank, Delta Life Insurance and National Life Insurance, which together added over 11 points to the index.
Textiles led the turnover chart with 16.4% share of daily trades, followed by pharmaceuticals (15%) and general insurance (9%). Malek Spinning Mills topped the turnover table at Tk 378 million.
However, analysts warned that shares of weak-performing companies also kept rising sharply, hinting at possible manipulation.
On the Chittagong Stock Exchange, the CASPI gained 32 points to 15,057, while the CSCX rose 33 points to 9,252, with Tk 204 million worth of shares traded.
