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Stocks post a modest gain after nine-day Eid vacation

FE Online Report | Published: August 18, 2019 16:00:51 | Updated: August 18, 2019 22:31:30


Stocks posted a modest gain on Sunday, the first trading session after a nine-day Eid holiday, as investors were active on sector specific shares.

Trading and official activities on the bourses remained closed for nine days from August 9 to August 17, including weekly holidays, on the occasion of Eid-ul-Azha.

The presence of investors was thin on the trading floors as many investors are yet to return in Dhaka after observing Eid-ul-Azha in their village home.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,216, gaining 15.11 points or 0.29 per cent over the last session before Eid holidays.

Market analysts said a section of investors were active on sector specific shares ahead of June-closing companies dividend declaration while some rebalanced their portfolio based on quarterly earnings declaration.

Two other indices also ended slightly higher. The DS30 index, comprising blue chips, advanced 4.04 points to finish at 1,841 and the DSES (Shariah) index gained 5.34 points to settle at 1,197.

Turnover, another important indicator of the market, stood at 13-session low to Tk 3.23 billion, which was 21 per cent lower than the previous day’s turnover of Tk 4.10 billion.

A total number of 103,320 trades were executed in the day’s trading session with trading volume of 90.62 million shares and mutual fund units.

The market-cap of the DSE also rose to Tk 3,875 billion on Sunday, from Tk 3,866 billion in the previous session.

The gainers took a modest lead over the losers as out of 352 issues traded, 184 closed higher, 123 ended lower and 45 issues remained unchanged on the DSE trading floor.

Khulna Power Company topped the turnover chart with shares worth nearly Tk 247 million changing hands, followed by JMI Syringes, United Power, Beacon Pharmaceuticals and Monno Ceramic Industries.

ACI Formulations was the day’s best performer, posting a gain of 10 per cent while VFS Thread Dyeing was the day’s worst loser, slumping by 8.86 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also closed marginally higher with the CSE All Share Price Index – CASPI – advancing 60 points to settle at 15,957 while the Selective Categories Index – CSCX –rising 35 points to finish at 9,696.

Here too, the gainers beat the losers as 124 issues closed higher, 85 suffered losses and 36 remained unchanged.

The port city bourse traded 4.82 million shares and mutual fund units worth nearly 151 million in turnover.

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