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Stocks bounce back with high turnover

| Updated: May 11, 2022 09:59:10

Stocks bounce back with high turnover

The market rebounded in the gaining streak on Sunday, snapping a two-day losing streak, as bargain hunters showed their buying interest in sector-wise stocks.

The market opened higher and went through some volatility until the end of the session as many investors rebalance their portfolios based on the latest quarterly earnings and year-end dividends.

DSEX, the key index of the Dhaka Stock Exchange, went up by 26.25 points or 0.39 per cent to settle at 6,669, after losing 34 points in the past two trading days.

The DSE Shariah Index (DSES) also edged up by 3.78 points to close at 1,447. However, the DSE 30 Index, comprising blue chips, fell 4.31 points to finish at 2,449.

The participation of investors also increased as most of the investors returned to Dhaka after celebrating Eid in their village homes.

Turnover, the crucial indicator of the market, jumped to Tk 9.72 billion on the country’s premier bourse, climbing by 108 per cent over the previous session’s mark of Tk 4.68 billion.

Market analysts said stocks rebounded with high turnover as institutional investors became active and small investors rebalance their portfolios based on the latest earnings declarations.

Of the 380 issues traded, 216 advanced, 112 declined and 52 remained unchanged on the DSE trading floor.

JMI Hospital Requisite Manufacturing was the most-traded stock with shares worth Tk 541 million changing hands, followed by Beximco (Tk 366 million), GPH Ispat (Tk 363 million), Unique Hotel (Tk 349 million) and IPDC Finance (Tk 299 million).

Shinepukur Ceramics was the top gainer, posting a 9.96 per cent gain while The City Bank was the worst loser, losing 13.87 per cent following its price adjustment after the record date.

The Chittagong Stock Exchange (CSE) also rebounded with the CSE All Share Price Index – CASPI –gaining 113 points to settle at 19,603 and the Selective Categories Index – CSCX – advancing 68 points to close at 11,761.

Of the issues traded, 168 advanced, 95 declined, and 25 issues remained unchanged on the CSE.

The port city’s bourse traded 12.12 million shares and mutual fund units with a turnover value worth Tk 319 million.

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