Turnover on the Dhaka Stock Exchange hit a six-month high yesterday as investor confidence gradually grew in the last five days of trade that ended in the black.

Turnover, an important indicator of the market, advanced 14.6 percent to Tk 596.71 crore with 17.3 crore shares and mutual fund units changing hands on the premier bourse. Turnover on the DSE stood at Tk 627.99 crore on November 18 last year.

Maintaining the gaining streak, DSEX, the benchmark index of the Dhaka bourse, rose 72.16 points or 1.68 percent, before finishing the day at 4,349.22 points.

The market jumped up on hopes of a cut in the interest rate on savings instruments, said LankaBangla Securities.

“A fear in the equity market that money was flowing out of stocks has faded out as the finance minister assured that the rates on all types of savings certificates may be reduced by 2 to 2.5 percentage points,” the stockbroker said.

Currently, the rate on a five-year savings certificate is 13.19 percent, which would likely be slashed to 11.19 percent.

IDLC Investments said Sunday's colossal gain attracted investors from the sidelines to bet on securities.

United Power Generation and Distribution Company topped the turnover leaders' chart with a transaction of 22.23 lakh shares worth Tk 46.28 crore, followed by Ifad Autos, Western Marine Shipyard, MJL Bangladesh and Beximco.

Gainers outnumbered losers 208 to 87, with 19 securities unchanged on the DSE.

Among the major sectors, general insurance gained 7.11 percent in market capitalisation, followed by banks with 6.12 percent, mutual funds 3.72 percent, textiles 1.06 percent and non-bank financial institutions 0.89 percent. No sectors declined in market capitalisation.

Janata Insurance was the day's best performer, advancing 24.36 percent, while Ambee Pharma was the worst loser, slumping 10.69 percent.

Chittagong stocks also continued to gain yesterday with the bourse's benchmark index, CSCX, increasing 169.77 points to stand at 8,180.65.

Gainers beat losers as 171 scrips advanced and 63 declined while 16 closed unchanged on the Chittagong Stock Exchange.
The port city bourse traded 1.71 crore shares and mutual fund units, generating a turnover of Tk 50.81 crore.