Stocks end higher after single-day break

The daily trade turnover on the Dhaka Stock Exchange (DSE) crossed Tk 8 billion-mark on Sunday after two-month, as the bargain hunters put fresh funds on selective insurance stocks in anticipation of short-term gain.

Turnover, a crucial indicator of the market, stood at Tk 8.68 billion on the country’s premier bourse, a further buck by 24 per cent over the previous day’s tally of Tk 6.97 billion.

It happened to be the biggest single-day transaction in the DSE after two months since July 20, when daily turnover recorded Tk 9.47 billion.

Dr. ATM Tariquzzaman, the new managing director of the DSE joined the DSE on Sunday which might boost investors’ confidence in the market, market operators said.

Following the news, the market opened higher and sustained the positive trend until closure of the market.

DSEX, the benchmark index of the DSE, finally went up by 9.26 points or 0.15 per cent to settle at 6,311, after losing nearly 3 points in the previous day.

The DS30 Index, which consists of blue-chip companies, also rose 6.23 points to 2,140 while the DSES index, which represents Shariah-based companies, gained 2.22 points to 1,362.

Republic Insurance was the day’s top gainer, rising 9.82 per cent while Continental Insurance was the worst loser, losing 5.57 per cent.

Provati Insurance was the most-traded stock, with shares worth Tk 435 million changing hands, followed by Paramount Insurance, Eastern Housing, Fu-Wang Food and Unique Hotel & Resorts.

However, most of the traded issues saw price erosion as of the 326 issues traded, 94 declined, 63 advanced and 169 remained unchanged on the DSE trading floor.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 24 points to 18,650 and its Selective Categories Index (CSCX) rising 15 points to close at 11,651.

The port-city bourse traded 1.84 million shares and mutual fund units with a turnover value of nearly Tk 70 million.

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