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DSE, CSE rebound on budgetary hopes

Markets rebound after single-day break


FE Online Report | Published: June 13, 2019 15:40:04 | Updated: June 16, 2019 17:52:40


Stocks rebounded on Thursday, after a single-day break, as investor showed their buying appetite on budget day on expectations.

Market analysts said stocks budgetary hopes coupled with central bank’s market supportive measures which widened the banks’ scope to invest in the stock market encouraged the investors to the market.

Finance Minister AHM Mustafa Kamal placed the proposed budget for the fiscal year (FY) 2019-20 on Thursday after the trading hours.

The market opened on negative note and the key index dropped 5.0 points within first hours of trading. But rest of the session went up amid modest volatility.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settle at 5,474, advancing 4.67 points or 0.08 per cent.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 1.36 points to finish at 1,918 and the DSE Shariah Index gained 2.41 points to close at 1,244.

Turnover, another important indicator of the market, stood at Tk 5.72 billion, which was 9.52 per cent higher than the previous session’s turnover of Tk 5.22 billion.

A total number of 150,245 trades were executed in the day’s trading session with trading volume of 175.83 million securities.

The market capitalisation of the DSE also rose to Tk 4,021 billion on Thursday, from Tk 4,015 billion in the previous session.

The gainers took a modest lead over the losers as out of 349 issues traded, 159 advanced, 138 declined and 52 issues remained unchanged on the DSE trading floor.

The newly listed Silco Pharmaceuticals topped the turnover chart with 7.25 million shares worth Tk 189 million changing hands.

The other turnover leaders were SK Trims Industries, JMI Syringes, BBS Cables and Genex Infosys.

Peoples Insurance was the day’s best performer, posting a gain of 10 per cent while Khulna Printing & Packaging was the worst loser, losing 4.57 per cent.

The port city bourse, Chittagong Stock Exchange, also ended marginally higher with its CSE All Share Price Index – CASPI –advancing 28 points to settle at 16,764 and the Selective Categories Index - CSCX –gaining 16 points to finish at 10,157.

Here too, the gainers beat losers, as 134 issues closed higher, 97 lower and 44 remained unchanged on the CSE trading floor.

The port city bourse traded 13.22 million shares and mutual fund units worth Tk 342 million in turnover.

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