Stocks extend rally with increased turnover

Stocks extended the rally on Monday with rising turnover as the buoyant investors put fresh bets on sector-wise issues, beating virus worries.

Following the previous day’s modest gain, the market opened on an optimistic note and the positive trend continued until the end of the session.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 35.67 points to settle at 7,055.

Two other indices also edged higher. The DSE 30 Index, comprising blue chips, rose 9.48 points to finish at 2,607 and the DSE Shariah Index (DSES) advanced 3.0 points to close at 1,505.

Meanwhile, Beximco Green-Sukuk closed at Tk 91.50 on Monday, losing further by 3.68 per cent over the previous day, the third day of debut, far below from its face value of Tk 100 each.

However, the rising Covid-19 cases prompted many investors to sell-off stocks to realise capital gain, he said.

Turnover, a crucial indicator of the market, jumped to Tk 16.85 billion, which was 12 per cent higher than the previous day’s tally of Tk 15.06 billion.

Gainers took a modest lead over the losers, as out of 379 issues traded, 173 advanced, 152 declined and 54 issues remained unchanged on the DSE trading floor.

Bangladesh Spinning Corporation was the most traded stock with shares worth Tk 1.31 billion changing hands, closely followed by Saif Powertec (Tk 1.0 billion), Beximco (Tk 900 million), Orion Pharma (759 million) and Power Grid Company  (Tk 550 million).

The newly listed Union Insurance was the day’s top gainer, posting a 10 per cent rise while Lovello Ice Cream was the day’s worst loser, losing 6.98 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 83 points to settle at 20,650 and the Selective Categories Index – CSCX—advancing 50 points to close at 12,404.

Of the issues traded, 141 advanced, 124 declined and 35 remained unchanged on the CSE.

The port-city bourse traded 11.54 million shares and mutual fund units with a turnover value of Tk 452 million.

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