Stocks rebound after three-day heavy selling

FE Online Report | Published: July 04, 2018 15:42:43 | Updated: July 06, 2018 11:17:34


Stocks bounced back to the green on Wednesday, snapping a three days losing streak, as optimistic investors showed their buying appetite on sector-wise stocks.

The market started on positive note and the upward trend sustained till end of the session with modest volatility.

Finally, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 36 points or 0.68 per cent to settle at 5,309, after losing 156 points in the past three sessions.

The two other indices closed marginally higher. The DS30 index, comprising blue chips, advanced 8.04 points to settle at 1,902 and the DSE Shariah Index gained 8.95 points to close at 1,245.

Turnover, the most important indicator of the market, rose to Tk 7.41 billion, which was 18 per cent higher than the previous session’s Tk 6.27 billion.

Of the traded issues, 207 closed lower, 87 higher and 43 issues remained unchanged on the DSE trading floor.

The newly listed Bashundhara Paper Mills continued to dominate the turnover chart with 3.52 million shares worth Tk 591 million changing hands, followed by Monno Ceramic Industries, United Power, Legacy Footwear and Ratanpur Steel Re-rolling Mills.

Deshbandhu Polymer was the day’s highest gainer, posting a gain of 10 per cent while the Modern Dyeing was the worst loser, losing 6.23 per cent.

The port city bourse—CSE—also returned to green zone with its All Share Price Index–CASPI–advancing 126 points to settle at 16,378 and the Selective Categories Index—CSCX–gaining 80 points to finish at 9,903.

The gainers beat losers as 141 issues closed higher, 70 ended lower and 30 remained unchanged on the CSE.

The port city bourse traded 12.14 million shares and mutual fund units worth more than Tk 632 million in turnover.

babulfexpress@gmail.com

Share if you like