The Financial Express

Stocks snap three-day losing streak

| Updated: December 22, 2021 10:10:26

Stocks snap three-day losing streak

Stocks bounced back on Wednesday, snapping a three-day losing streak, as bargain hunters put fresh bets on selective large-cap stocks.

The market moved between positive and negative territory several times before ending marginally higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 30.36 points or 0.44 per cent to settle at 6,868, after losing 147 points in the past three consecutive sessions.

Two other indices also finished higher. The DSE 30 Index, comprising blue chips, rose 18.04 points to close at 2,586 and the DSE Shariah Index (DSES) advanced 5.64 points to settle at 1,462.

Market insiders said the market witnessed high volatility at the opening, but late hours buying pressure on the selective large-cap stock helped the market index to close green.

Large-cap stocks such as British American Tobacco, Beximco, Beximco Pharma, Unilever Bangladesh, and Square Pharma jointly contributed 26 points rise of DSEX, according to amarstock.com, a market data analyst.

Turnover, the crucial indicator of the market, however, dropped to Tk 8.07 billion, which was 25 per cent lower than the previous day’s tally of Tk 10.80 billion.

Beximco, which gained 2.39 per cent, was the most traded stock with shares worth Tk 1.24 billion changing hands, followed by Fortune Shoes (Tk 449 million), ONE Bank (Tk 366 million), Genex Infosys (Tk 274 million), and Sonali Paper & Board Mills.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 90 points to settle at 20,075 and the Selective Categories Index – CSCX, advancing 56 points to close at 12,064.

Of the issues traded, 124 declined, 106 advanced and 27 remained unchanged on the CSE.

The port city’s bourse traded 8.58 million shares and mutual fund units with a turnover value of Tk 340 million.

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