Stocks close slightly higher as low-cap firms dominate gainers’ list

Stocks closed slightly higher on Tuesday as investors continued to show their buying interest on low-performing stocks in anticipation of quick gains.

Mostly low-cap junk stocks kept their dominance in the top gainer and turnover list amid short-term gains potential.

After witnessing volatile trading throughout the day, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up only 2.75 points to settle at 6,334.

The DS30 Index, which consists of blue-chip companies, gained 2.01 points to 2,193 and the DSES index, which represents Shariah-based companies, saw a fractional gain of 0.65 point to 1,374.

The participation of investors in the market dropped 12 per cent and total turnover amounted to Tk 6 billion.

The majority of the traded issues saw price erosion as 375 issues traded, 120 closed lower, 74 higher and 181 issues remained unchanged.

Fu-Wang Food became the most-traded stock with shares worth Tk 418 million changing hands, closely followed by Khan Brother PP Woven Bag Industries, Sea Pearl Beach Reports, JMI Hospital Requisite Manufacturing and Fu-Wang Ceramic.

The Chittagong Stock Exchange (CSE) also edged up with the CSE All Share Price Index – CASPI –gaining 21 points to settle at 18,726 and the Selective Categories Index – CSCX –rising 12 points to close at 11,194.

Of the issues traded, 70 declined, 62 advanced and 79 issues remained unchanged on the CSE.

The port city’s bourse traded 5.52 million shares and mutual fund units with a turnover value worth Tk 188 million

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