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Stocks rebound strongly riding on GP

DSE daily turnover hits two-month low


FE Online Report | Published: September 22, 2019 17:55:50 | Updated: September 24, 2019 11:41:34


Stocks rebounded strongly on Sunday as all three indices soared by more than 1.0 per cent each, powered by investors’ buying spree on large-cap stocks.

Stockbrokers said the market registered a sharp gain, snapping a recent bearish spell, driven by rally in telecommunication sector as the sector’s heavyweight Grameenphone’s share rose 7.52 per cent.

The market started on a flying note and remained vibrant throughout the session amid strong buying pressure from the investors.

At the end of the session, DSEX, the prime index of the DSE, went up by 64.98 points or 1.33 per cent to settle at 4,920.

Two other indices also ended higher. The DS30 index, comprising of blue chips, advanced 30.59 points to finish at 1,768 and the DSE Shariah Index rose 26.97 points to close at 1,150.

Turnover, a crucial indicator of the market, fell to Tk 3.04 billion, which was 21 per cent lower than the previous day’s Tk 3.95 billion.

It was also the lowest turnover in more than two months since July 16, when turnover totalled Tk 2.71 billion.

Gainers took a strong lead over the losers as out of 351 issues traded, 185 closed higher, 106 ended lower and 60 remained unchanged on the DSE trading floor.

A total number of 97,379 trades were executed in the day’s trading session with trading volume of 66.61 million shares and mutual fund units.

The market-cap of the DSE also rose to Tk 3,749 billion on Sunday, from Tk 3,689 billion in the previous session.

GP topped the turnover chart with shares worth more than Tk 386 million changing hands, followed by Monno Jute Stafflers, JMI Syringes, National Tubes and Fortune Shoes.

JMI Syringes was the day’s best performer, posting a gain of 10.85 per cent following its corporate declaration while Emerald Oil Industries was the day’s worst loser, plunging by 9.52 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended higher with its All Shares Price Index (CAPSI) soaring 185 points to close at 14,946 and the Selective Categories Index (CSCX) rising 115 points to finish at 9,076.

Here too, gainers beat the losers as 122 issues closed higher, 74 lower and 36 remained unchanged on the CSE.

The port city bourse traded 3.84 million shares and mutual fund units worth nearly Tk 194 million in turnover.

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