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Stocks posted a marginal gain on Wednesday, after a single-day break, as bargain hunters showed buying interest in small-cap shares in anticipation of short-term profit.
Following the previous day’s downturn, the market went through volatility almost throughout the session, finally ending marginally higher.
DSEX, the prime index of the Dhaka Stock Exchange, went up by 2.14 points to settle at 6,293, after losing more than 8 points in the previous day.
The DS30 Index, which comprises blue-chip companies, also rose 1.03 points to 2,139 while the DSES index, which represents Shariah-based companies, saw a fractional gain of 0.07 point to 1,371.
The investors mostly focused on short-term bets as the prolonged volatility and weakened strength of the market have dampened their confidence, market operators said.
The market has been in a bear grip for more than a year since the stock market regulator imposed the floor price. Buyers have shown reluctance to buy stocks even at the lowest price set.
Since the floor price was imposed more than a year ago, the market has been on a bearish trend, with some periodic upward movement, which failed to sustain amid the confidence crisis.
Turnover, a crucial market indicator, stood at Tk 4.13 billion, up from Tk 3.92 billion in the previous day.
Of the 303 issues traded, 74 witnessed a price fall, 73 closed higher and 156 issues remained unchanged on the DSE trading floor.
Small-cap companies kept their dominance in the turnover chart with Fu-Wang Food being the most-traded stocks with shares worth Tk 503 million changing hands, followed by Khan Brothers PP Woven Bag Industries, Sea Pearl Beach Resorts and Emerald Oil Industries.
Daffodil Computers, another low-cap company, was the day’s top gainer, registering an increase of 9.96 per cent while Bangladesh Monospool Paper Manufacturing Company was the top loser, dropping 2.46 per cent.
The Chittagong Stock Exchange (CSE) also saw a marginal gain, with the CSE All Share Price Index (CASPI) rising 9 points to settle at 18,615 and the Selective Categories Index (CSCX) gaining 6 points to close at 11,128.