BSC sails to top of DSE turnover chart

BSC sails to top of DSE turnover chart

Ten most-traded firms accounted for 43 per cent of the transactions on the Dhaka Stock Exchange (DSE) in the outgoing week to Thursday, with Bangladesh Shipping Corporation (BSC) dominating the turnover list.

The BSC topped the chart as investors renewed their appetite, buoyed by the news that it received exclusive right to carry government-funded cargo which may help its business grow further.

The Ministry of Shipping (MoS) issued the Bangladesh Flag Vessel (protection of interests) rule recently which is framed with a provision of mandatory transportation of government-funded goods.

The state-run entities usually import various types of fertilizer, fuel oil, food items and motor vehicles.

According to the DSE data, some 5.60 million BSC shares were traded during the week, generating a turnover of Tk 760 million, which was 6.96 per cent of the week's total turnover.

The week's total turnover stood at Tk 10.93 billion; down from Tk 21.11 billion in the week before as the last week saw four trading days instead of regular five.

The state-run corporation's stock price closed at Tk 132.4 on Thursday, losing 3.32 per cent over the week before.

Genex Infosys came second on the turnover chart, with shares worth Tk 701 million changing hands during the week. The IT firm's share dropped 5.98 per cent to close at Tk 88.60 on Thursday.

Genex Infosys had been leading the market over the past few weeks as investors chased its shares, buoyed by its promising business outlook.

Genex Infosys forecasts its business will triple in the next five years on the back of three deals signed in recent times.

Shinepukur Ceramics clinched the third spot, with shares worth Tk 616 million changing hands. The tableware manufacturer's share closed at Tk 44.40 on Thursday, losing 4.40 over the previous week.

Sea Pearl Beach Resorts emerged as the fourth, with shares worth Tk 497 million changing hands. The five-star hotel's share rose 2.26 per cent to close at Tk 287.80 on Thursday.

Olympic Industries notched the fifth spot, with shares worth Tk 459 million changing hands. The country's leading biscuit maker's share price dropped 2.69 per cent to close at Tk 145.70 on Thursday.

Turnover of Gemini Sea Food was Tk 361 million. The shrimp exporter's share price dropped 7.22 per cent to close at Tk 424 on Thursday.

Aamra Networks featured a turnover of Tk 322 million. Its share closed at Tk 58.90, losing 3.64 per cent over the week before.

The turnover of Orion Pharma was Tk 322 million. The drug maker's share price fell 3.53 per cent to close at Tk 81 on Thursday.

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