The Financial Express

Stocks edge higher after a choppy trading

| Updated: October 08, 2021 09:07:15

Stocks edge higher after a choppy trading

Stocks ended marginally higher on Wednesday after choppy trading as investors were active on both sides of the trading fence ahead of corporate declarations.

The market opened on a sharp rise and the key index rose more than 75 points within the first 25 minutes of trading. But late hours profit booking sell-offs on selective large-cap stocks eroded most of the initial gain.

Finally, DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 19.66 points or 0.26 per cent to settle at 7,351 points after adding 3.85 points in the previous day.

The two other indices also edged higher. The DS30 index, comprising blue chips advanced 9.69 points to finish at 2,787 and the DSE Shariah Index (DSES) rose 5.82 points or to close at 1,600.

Turnover, another important indicator of the market, also rose to Tk 26.81 billion on the prime bourse, which was 14 per cent higher than the previous day’s tally of Tk 23.52 billion.

Market insiders said the optimistic investors showed buying appetite on selective large-cap stocks although profit-taking was still on the menu.

Losers took a strong lead over the gainers, as out of 374 issues traded, 231 closed lower, 112 higher and 31 remained unchanged on the DSE trading floor.

LafargeHolcim Bangladesh, which saw a 2.18 per cent correction after the recent rally, topped the day’s turnover chart with shares of Tk 1.74 billion changing hands, closely followed by Orion Pharma, Beximco, Power Grid Company and Paramount Textile.

The state-run Power Grid Company was the day’s best performer, posting a gain of 9.95 per cent while Aman Feed was the day’s worst loser, plunging by 8.95 per cent.

The Chittagong Stock Exchange (CSE) also ended marginally higher with the CSE All Share Price Index – CASPI –gaining 81 points to settle at 21,514 and the Selective Categories Index – CSCX – rising 49 points to close at 12,922.

Of the issues traded, 196 declined, 102 advanced and 27 remained unchanged on the CSE trading floor.

The port city’s bourse traded 25.79 million shares and mutual fund units with a turnover value of Tk 1.16 billion.

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