DSEX at 1-month high as turnover crosses Tk500cr
![DSEX at 1-month high as turnover crosses Tk500cr](https://stocknewsbd.s3.ap-southeast-1.amazonaws.com/3605/dse_stock_market_2.png)
Following a dull and bearish trend for weeks, stocks gained some momentum back on Monday (12 December) with the bargain hunters activities to bag oversold stocks before the year end.Turnover in the Dhaka Stock Exchange (DSE) increased by 37% to over Tk500 crore on Monday for the first time since 23 November.DSEX, the broad-based index at the premier bourse, logged two consecutive winning sessions and on Monday it increased by 0.4% to close at 6,267 – the highest closing value since 13 November. The market started with an upward momentum that sustained throughout the session as investors opted to take positions in equities since the prevailing concerns regarding political unrest have been alleviated to some extent, said EBL Securities. Stockbrokers said some investors were going slow ahead of the political demonstrations in the capital on 10 December and they felt better as it was over without much tension.However, cautious investors have yet to regain confidence in the trading floor as limited liquidation opportunities in the market and dismal performance forecasts of the majority of listed companies have exacerbated their concerns about the market outlook.The economic issues were still there and bargain hunters were still limiting their bets to a smaller extent, said brokerage professionals.Investors have been busy anticipating what the institutional investors – banks, insurance, market intermediaries and corporate portfolio investors – might do before the year end as their action in crucial days dictates the market direction a lot.Lack of confidence and liquidity crisis in the banking sector added to the worries regarding the market in the recent weeks and investors were conservative in stock trading.Besides, the floor price that suffocated majority listed scrips at the artificially held price levels while investors showed barely any interest in buying scrips also kept the market subdued for weeks.However, the increasing prices and volume in the market this week boosted investors confidence in the capital market to some extent, said stockbrokers.Pharmaceutical and chemical, IT and paper sectors together contributed around half of the DSE s turnover Monday, while most sectors displayed some positive movement.Jute, paper, service and real estate sectors generated the highest 7.5%, 3.8% and 1.9% return respectively.Tannery and ceramic sectors, on the other hand, suffered around 0.3% price corrections on Monday.On Monday, 74 scrips advanced in the DSE, while 17 declined.The port city bourse Chittagong Stock Exchange also settled on green terrain on Monday.