Dhaka stocks turnover tops Tk 4bn after 6-week slump

Turnover on the country’s main bourse has crossed Tk 4 billion for the first time in over six weeks, as broad-based gains lifted investor sentiment and pushed the benchmark index higher.

The Dhaka Stock Exchange (DSE) key index rose 59.65 points to close at 4,783, extending a three-day rally amid signs of recovery after a prolonged slump in trading activity. On Sunday, the index had closed at 4,724.

Total turnover reached Tk 4.17 billion, including Tk 405 million traded in block transactions. Prior to Monday, turnover had mostly remained below Tk 3 billion, hitting a low of Tk 2.24 billion on Jun 4.

The rally was driven by strong gains in shares from food and allied, banking, pharmaceuticals, textiles, engineering, and insurance sectors.

The food and allied sector led the day’s trading, contributing Tk 600 million, 15.66 percent of total turnover, followed by banking -- Tk 521 million or 13.6 percent, and pharmaceuticals and chemicals -- Tk 453 million or 11.82 percent.

Investor confidence grew steadily through the session, with the index gaining momentum after the first half hour of trading.

Of the 399 companies and mutual funds traded, 315, or nearly 79 percent, posted gains. 36 stocks declined, while 46 remained unchanged.

Top gainers based on closing prices included National Housing Finance, Agni Systems, and Standard Bank, while Shyampur Sugar Mills, Asia Pacific General Insurance, and Sea Pearl Beach Resort & Spa languished among the losers.