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Stocks keep gaining amid choppy trading

FE Online Report | Wednesday, 17 July 2019


Stocks posted marginal gain for the second straight session on Wednesday amid volatile trading.

Market analysts said despite the market edged up, most of the investors remained cautious ahead of earnings disclosures.

The market in the very beginning opened higher, rising 18 points but went in red in the mid-session, before recovering some points in the last hour trade.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 8.68 points or 0.16 per cent to finish at 5,133.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 0.54 points to close at 1,830 and the DSE Shariah Index gained 1.59 points to settle at 1,176.

Turnover, another important indicator of the market, stood at Tk 3.09 billion, which was 14 per cent higher than the previous day’s two months’ lowest turnover of Tk 2.71 billion.

The gainers took a modest lead over the losers as out of 352 issues traded, 196 advanced, 118 declined and 38 issues remained unchanged on the DSE trading floor.

Fortune Shoes topped the turnover chart with 6.04 million shares worth Tk 232 million changing hands.

The other turnover leaders were United Power, Silco Pharmaceuticals, GP, and Global Insurance Company.

A total number of 95,828 trades were executed in the day’s trading session with trading volume of 126.60 million securities.

The market capitalisation of the DSE also rose to Tk 3,817 billion on Wednesday, from Tk 3,812 billion in the previous session.

Eastern Insurance was the day’s best performer, posting a gain of 9.90 cent while BIFC was the worst loser, losing 8.57 per cent.

The port city bourse--Chittagong Stock Exchange--also ended marginally higher with its CSE All Share Price Index – CASPI –advancing 28 points to settle at 15,730 and the Selective Categories Index - CSCX –gaining 22 points to finish at 9,559.

Here too, the gainers beat losers, as 151 issues closed higher, 98 lower and 24 remained unchanged on the CSE trading floor.

The port city bourse traded 22.22 million shares and mutual fund units worth Tk 301 million in turnover.

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