Stocks bounce back as large-cap stocks surge
DSE daily turnover exceeds Tk 10b-mark
Stocks rebounded strongly on Monday, snapping a two-day losing streak, as optimistic investors showed their appetite on large-cap lucrative issues.
Following the previous two days’ price fall, the market opened on a high note which continued until the end of the session with no signs of reversal.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 97.45 points or 1.78 per cent to settle at 5,545.
Two other indices also ended higher. The DS30 index, comprising blue chips, soared 46.15 points to finish at 2146 and the DSE Shariah Index rose 21.60 points to close at 1,260.
Turnover, a crucial indicator of the market, crossed Tk 10 billion-mark once again and amounted to Tk 10.82 billion, climbing by 35 per cent over the previous day’s turnover of Tk 8.01 billion.
Market operators said the investors went on buying binge on major sector stocks which saw sharp correction in the past few trading sessions.
Top positive index contributors were Robi, Walton, Grameenphone, Beximco Pharmaceuticals, United Power and LafargeHolcim, according to data from amarstock.com, a stock market data analyst.
Gainers took a strong lead over the losers, as out of 351 issues traded, 226 advanced, 34 declined and 91 remained unchanged on the DSE trading floor.
A total number of 169,157 trades were executed in the day’s trading session with a trading volume of 217.78 million shares and mutual fund units.
Total market capitalisation jumped to Tk 4,748 billion on Monday, from Tk 4,656 billion in the previous day.
Beximco – which gained 4.39 per cent - continued to dominate the turnover chart with 25.22 million shares worth Tk 2.38 billion changing hands.
It was followed by British American Tobacco Bangladesh that became the second-best top turnover leader with shares worth Tk 981 million.
Other turnover leaders included LankaBangla Finance, Beximco Pharma and Robi Axiata.
Bay Leasing was the day’s best performer, posting a gain of 10 cent while Golden Son was the worst loser, losing 5.0 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with its All Shares Price Index (CASPI)—soaring 297 points to close at 16,084 while the Selective Categories Index – CSCX rising 181 points to close at 9,705.
Of the issues traded, 143 advanced, 45 declined and 40 remained unchanged on the CSE.
The port city bourse traded 11.88 million shares and mutual fund units with turnover value of more than Tk 399 million.