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Stocks rebounded on Wednesday, snapping a five-day losing streak, supported by Investment Corporation of Bangladesh (ICB).
The state-run Investment Corporation of Bangladesh resumed much-talked investment in the capital market from Wednesday as part of the corporation’s market supportive measure.
The market started on positive note and the upward trend continued till end of the session with no sign of reversal. Finally the key index of the main bourse rose more than 37 points at closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 37.85 points or 0.72 per cent to settle at 5,242, after hitting nearly 23 months low.
Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also closed higher.
The DS30 index, comprising blue chips, advanced 10.78 points to finish at 1,853 and the DSE Shariah Index rose 7.09 points to close at 1,207.
Turnover, another important indicator of the market, rose to Tk 4.84 billion, which was 10 per cent higher than the previous day’s Tk 4.40 billion.
The gainers took a strong lead over the losers as out of 335 issues traded, 206 closed higher, 80 ended lower and 49 securities unchanged on the premier bourse.
A total number of 122,367 trades were executed in the day’s trading session on the DSE with trading volume of 128.43 million securities.
The market capitalisation of the DSE also rose to Tk 3,811 billion on the day which was Tk 3,788 billion in the previous session.
SK Trims Industries dominated the DSE turnover chart with 4.85 million shares worth Tk 207 million changing hands.
The other turnover leaders were Saiham Cotton Mills, VFS Thread Dyeing, BBS Cables and Intraco Refueling Station.
VFS Thread Dyeing was the day’s best performer, posting a gain of 9.98 per cent while Savar Refractories was the worst loser, losing 8.11 per cent.
The Chittagong Stock Exchange (CSE) also ended higher after five days with its CSE All Share Price Index–CASPI–gaining 82 points to settle at 16,062 and the Selective Categories Index - CSCX –rising 52 points to finish at 9,732.
The gainers beat losers as 124 issues closed higher, 85 ended lower, with 35 issues remaining unchanged on the CSE.
The port city bourse traded 6.67 million shares and mutual fund units worth Tk 219 million in turnover.