Stock market sees significant surge; prices of most companies rise

Stocks ended positive on Monday, as bargain hunters chose to take positions in the beaten-down scrips. 

The prime index of the Dhaka Stock Exchange (DSE) increased 50.75 points to settle at 5,195.83.

DSE logged some recovery, with the majority of scrips witnessing gains, as bargain hunters chose to take positions in the beaten-down scrips, although broader investor sentiment has yet to rebound amid uncertain market momentum, According to the EBL securities.

The blue-chip index DS30, comprising 30 leading companies, increased by 20.21 points to 1,923, while the DSES Index, representing Shariah-compliant companies, increased by 15.62 points to 1,171.16 by the close.

The indices remained upbeat right from the start of today’s session owing to a dominant buying trend as the market’s prolonged downturn has somewhat eased down following the DSE index rebalancing that instilled a sense of cautious optimism among investors expecting a revival of the ailing market, according to the EBL securities.

Turnover, a crucial indicator of the market, stood at Tk 4.27 billion, up 16 per cent from the previous trading day.

The majority of the stocks saw a price increase, as out of the 400 issues traded, 248 closed higher, 81 ended lower, and 71 remained unchanged on the DSE trading floor.

Taufika Foods and Lovello Ice-cream was the most-traded stock with shares worth Tk 144.34 million changing hands, followed by Midland Bank, Asiatic Laboratories, Orion Infusion and Khan Brothers PP Woven Bag Industries.

The Chittagong Stock Exchange (CSE) ended up with its All Share Price Index (CASPI) increasing 85.54 points to settle at 14450 and the Selective Categories Index (CSCX) increasing 56 points to settle at 8791.

The port city bourse traded 1.51 million shares and mutual fund units with a turnover volume of Tk 25.82 million.

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