The Financial Express

Stocks extend rally amid optimism, turnover hits one-month high

| Updated: January 06, 2022 09:50:24

Stocks extend rally amid optimism, turnover hits one-month high

Stocks extended their rally on Monday with turnover hitting one month high on the major bourse as investors continued to put fresh funds on stocks riding on the high hope.

The market started on a flying note and the key index rose about 70 points within the first hour of trading. But the rest of the session eroded most of the early gains on profit-booking sell-off.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.16 points or 0.42 per cent to settle at 6,882.

Turnover, a crucial indicator of the market, jumped to Tk 13.14 billion on the country’s premier bourse, climbing by 47 per cent over the previous day’s tally of Tk 8.94 billion.

Market analysts said most of the investors are putting fresh funds on stocks on major sector stocks amid high optimism in the New Year.

Two other indices also ended higher. The DS30 index, comprising blue chips, rose 15.47 points to finish at 2,576 and the DSE Shariah Index advanced 6.01 points to close at 1,451.

Gainers took a strong lead over the losers as out of 377 issues traded, 217 advanced, 132 declined and 28 remained unchanged on the DSE trading floor.

A total number of 208,175 trades were executed in the day’s trading session with a trading volume of 274.03 million shares and mutual fund units.

Beximco, which gained 1.82 per cent, topped the turnover list with shares worth Tk 1.81 billion changing hands, followed by Bangladesh Shipping Corporation (Tk 730 million), Fortune Shoes (Tk 695 million), Power Grid Company (Tk 447 million) and Peninsula Chittagong (Tk 280 million).

eGeneration was the day’s best performer, posting a gain of 9.98 per cent, while Sonali Paper & Board Mills was the worst loser for the second straight day, losing 7.49 per cent after one of its directors declared to sell 900,000 shares in the public market within the next 30 days.

The Chittagong Stock Exchange also extended the gaining streak with its All Shares Price Index (CASPI)—gaining 102 points to close at 20,157 while the Selective Categories Index – CSCX rose 58 points to close at 12105.

Of the issues traded, 190 advanced, 92 declined and 24 remained unchanged on the CSE.

The port city bourse traded 11.47 million shares and mutual fund units with a turnover value of more than Tk 287 million.

[email protected]

Share if you like