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The Financial Express

Stocks edge up after single-day break

| Updated: August 06, 2020 21:13:07


Stocks edge up after single-day break

Stocks posted a modest gain on Thursday, after a single-day break, as bargain hunters showed their appetite on major sectors’ issues at the lowest possible prices.

DSEX, the key index of the Dhaka Stock Exchange, went up by 4.14 points or 0.07 per cent to settle at 4,080, after losing 9.0 points in the previous day.

Two other indices also edged higher. The DS30 index gained 2.68 points to finish at 1,374 and the DSE Shariah Index rose 1.03 points to close at 946.

Market analysts said investors showed buying appetite on the selective large-cap issues amid optimism owing to gradual reopening of the economy and revival of some specific sectors’ activity.

However, the market has been struggling with poor participation of investors for long due to the regulator- enforced floor price mechanism and no signs of improving the ongoing Covid-19 situation, said a leading broker.

Turnover, another important indicator of the market, stood at Tk 2.62 billion on the country’s prime bourse, which was 6.0 per cent higher than the previous day’s turnover of Tk 2.47 billion in the previous session.

Most of the shares remained stuck at the trading. Of the issues traded, 185 remained unchanged while 91 issues advanced and 67 declined on the DSE floor.

A total number of 67,795 trades were executed in the day’s trading session with a trading volume of 84.55 million shares and mutual fund units.

The market-cap on the premier bourse also rose to Tk 3,175 billion on Thursday, from Tk 3,168 billion in the previous session.

Grameenphone topped the turnover chart with shares worth Tk 174 million changing hands, closely followed by Nahee Aluminum, Square Pharma, Pioneer Insurance and Saiham Textile.

Esquire Knit Composite was the day’s best performer, posting a gain of 8.55 per cent while GQ Ball Pen was the worst loser, losing 5.73 per cent.

The Chittagong Stock Exchange also backed to the green with its All Shares Price Index (CASPI)—gaining 14 points to close at 11,622 and the Selective Categories Index - CSCX –advancing 8.0 points to finish at 7,044.

Of the issues traded, 54 gained, 48 declined and 99 remained unchanged on the CSE.

The port city bourse traded 2.31 million shares and mutual fund units with a turnover value of Tk 54 million.

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