Stocks bounce back after falling into correction

FE Online Report | Published: July 10, 2018 15:39:43 | Updated: July 11, 2018 16:07:16


Stocks rebounded on Tuesday while the daily trade turnover on Dhaka Stock Exchange (DSE) scaled Tk 10-billion mark after eight months as the investors put fresh stakes on stocks.

Turnover, an important indicator of the market, stood at Tk 10.88 billion on the country’s premier bourse, climbing further by 21 per cent over previous day’s mark of Tk 9.01 billion.

It was the biggest single-day transaction in the last eight months since November 21, 2017, when the turnover totalled a record Tk 10.91 billion.

Market insiders said low interest rates on bank deposits and dividend expectation of June-ending companies prompted investors to take position in stocks, taking the turnover nearly eight months high.

Along with turnover, DSEX, the prime index of the DSE, also went up by 30 points or 0.56 per cent to settle at 5,371.

The two other indices also edged higher. The DS30 index, comprising blue chips, advanced 1.08 points to settle at 1,911 and the DSE Shariah Index gained 2.76 points to close at 1,271.

Of the traded issues, 183 closed higher, 99 ended lower with 57 issues remaining unchanged on the DSE trading floor.

The newly listed Bashundhara Paper Mills topped the turnover chart with 2.77 million shares worth Tk 458 million changing hands, closely followed by BBS Cables, Ratanpur Steel Re-rolling Mills, Pacific Denims and Paramount Textile.

The Peninsula Chittagong was the day’s highest gainer, posting a gain of 10 per cent while the Aramit was the worst loser, losing 6.67 per cent.

The port city bourse also ended higher with its All Share Price Index–CASPI– advancing 87 points to settle at 16,548 and the Selective Categories Index - CSCX –gaining 53 points to finish at 10,012.

The gainers beat losers as 152 issues closed higher, 73 ended lower and 25 remained unchanged on the CSE.

The CSE traded 19.52 million shares and mutual fund units worth more than Tk 621 million in turnover.

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