The Financial Express

Stocks bounce back after single-day break

| Updated: January 13, 2022 09:31:31

Stocks bounce back after single-day break

Stocks rebounded on the gaining streak Monday, after a single-day break, thanks to the increased participation of institutional investors.

After witnessing high volatility in the first hour of trading, the rest of the session went up steadily as the bargain hunters put fresh bets on sector-wise lucrative stocks.

The DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up 61.54 points or 0.88 per cent to 6,994, after losing more than 54 points in the previous day.

Two other indices also ended higher. The DSE 30 Index, comprising blue chips, advanced 27.42 points to finish at 2,606 and the DSE Shariah Index (DSES) gained 12.54 points to close at 1,480.

Turnover, a crucial indicator of the market, stood at Tk 14.87 billion, which was 1.78 per cent higher than the previous day’s tally of Tk 14.61 billion.

Market analysts said stocks rebounded as the bargain hunters took some fresh stake in the sector-specific issues after the previous day’s sharp fall.

Gainers took a modest lead over the losers, as out of 377 issues traded, 178 advanced, 158 declined and 41 remained unchanged on the DSE trading floor.

The state-run Power Grid Company, which gained 9.73 per cent, was the most traded stock with shares worth Tk 1.01 billion changing hands, followed by Beximco (Tk 943 million), Bangladesh Shipping Corporation (Tk 656 million), Bangladesh Submarine Cable (Tk 562 million) and Fortune Shoes (Tk 510 million).

Popular Life Insurance was the day's highest gainer, soaring 10 per cent while Dhaka Dyeing was the day’s worst loser, losing 6.12 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 166 points to settle at 20,477 and the Selective Categories Index – CSCX-- rising 101 points to close at 12,300.

Of the issues traded, 140 advanced, 127 declined and 38 remained unchanged on the CSE.

The port city bourse traded 13.10 million shares and mutual fund units with a turnover value of Tk 448 million.

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