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DSE, CSE rebound after ICB received Tk 7.60 billion

FE Online Report | Published: May 22, 2019 15:23:48 | Updated: May 23, 2019 15:19:44


Stocks posted marginal gain on Wednesday as investors showed their buying appetite on sector-wise shares after the Investment Corporation of Bangladesh received Tk 7.60 billion from the central bank.

Market analysts said the stocks rebounded after the news that the ICB received the money from the Bangladesh Bank under the capital market refinancing scheme.

The market opened on positive note and the upturn continued until end of the session amid modest volatility.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 14.09 points or 0.26 per cent to settle at 5,250.

Two other indices also edged up. The DS30 index, comprising blue chips, advanced 7.53 points to finish at 1,830 and the DSE Shariah Index rose 1.31 points to close at 1,196.

However, turnover, another important indicator of the market, fell to Tk 2.90, which was 17 per cent lower than the previous day’s turnover of Tk 3.51 billion.

The gainers took a strong lead over the losers as out of 342 issues traded, 191 advanced, 92 declined and 59 issues remained unchanged on the DSE trading floor.

Fortune Shoes topped the turnover chart with 4.49 million shares worth Tk 174 million changing hands.

The other turnover leaders were Brac Bank, JMI Syringes, United Power and Eastern Cables.

Global Insurance was the day’s best performer, posting a gain of 9.61 per cent while Rupali Life Insurance was the worst loser, losing 7.15 per cent.

The port city bourse, Chittagong Stock Exchange, also edged up with its CSE All Share Price Index – CASPI –advancing 34 points to settle at 16,042 and the Selective Categories Index - CSCX –gaining 17 points to finish at 9,709.

Here too, the gainers beat losers, as 119 issues closed higher, 72 ended lower and 36 remained unchanged on the CSE trading floor.

The port city bourse traded 4.39 million shares and mutual fund units worth Tk 147 million in turnover.

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