Stocks rebound following single-day break

FE Online Report | Thursday, 22 August 2019

Stocks rebounded on Thursday, after a single-day break, as some investors showed their buying binge on sector-wise shares.

The market opened on upward trend and the key index of the major bourse rose about 31 points within first hour of trading. But most of the early gains eroded amid sale pressure.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,236, gaining 13.43 points or 0.25 per cent over the previous day.

Two other indices also ended marginally higher. The DS30 index, comprising blue chips, rose 8.34 points to close at 1,850 and the DSES (Shariah) index gained 2.35 points to settle at 1,206.

Turnover, another important indicator of the market, however, rose to Tk 4.78 billion, which was 12 per cent higher than the previous day’s turnover of Tk 5.42 billion.

A total number of 129,554 trades were executed in the day’s trading session with trading volume of 165.41 million shares and mutual fund units.

The market-cap of the DSE also fell to Tk 3,884 billion on Thursday, from Tk 3,880 billion in the previous session.

Gainers took a modest lead over the losers as out of 352 issues traded, 159 closed higher, 144 ended lower and 49 issues remained unchanged on the DSE trading floor.

United Power topped the turnover chart with shares worth more than Tk 469 million changing hands.

The other turnover leaders were Beximco, National Tubes, Fortune Shoes and Orion Infusions.

Beximco was the day’s best performer, posting a gain of 9.27 per cent while SEML FBSL Growth Fund was the worst loser for the second straight day, slumping by 6.61 per cent.

The port city bourse, the Chittagong Stock Exchange, closed higher with the CSE All Share Price Index – CASPI – gaining 62 points to settle at 16,040 while the Selective Categories Index – CSCX –rising 34 points to finish at 9,734.

Here too, the gainers beat losers as 140 issues ended higher, 86 closed lower and 39 remained unchanged.

The port city bourse traded 13.21 million shares and mutual fund units nearly Tk 410 million in turnover.