a year ago

Stocks edge up after rocky ride

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Stocks finished marginally higher on Thursday, after a two-day correction, as bargain hunters showed their buying interest in sector-specific issues.

The market moved between positive and negative trends several times before closing marginally higher despite the prices of most shares remaining unchanged.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 12.55 points or 0.19 per cent to settle at 6,564, after losing almost 50 points in the past two days.

The DSE Shariah Index (DSES) also saw a fractional gain of 0.37 points to close at 1,436. However, the DS30 index, comprising blue chips, dropped 9.14 points to finish at 2,365.

Turnover, a crucial indicator of the market, dropped to Tk 16.66 billion on the premier bourse, which was 7.90 per cent lower than the previous day’s tally of Tk 18.08 billion.

Market insiders said the market witnessed high volatility after two-day corrections as investors were active on both sides of the trading fence.

Most of the traded issues, however, remained unchanged due to the ‘floor price’ restriction. Of the 375 issues traded, 131 advanced, 78 declined and 166 others remained unchanged on the DSE trading floor.

Orion pharma became the most-traded stock with shares worth Tk 1.95 billion changing hands.

ADN Telecom was the day’s top gainer, soaring 10 per cent while Jute Spinners was the worst loser, losing 7.98 per cent.

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index (CASPI) rising 23 points to settle at 19,342 and its Selective Categories Index (CSCX) gaining 13 points to close at 11,594.

Of the issues traded, 94 advanced, 60 declined and 107 remained unchanged.

The port-city bourse traded 35.38 million shares and mutual fund units with a turnover value of Tk 995 million.

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