The Financial Express

Stocks inch higher after bumpy ride

| Updated: March 15, 2021 10:52:17

Stocks inch higher after bumpy ride

Stocks posted a marginal gain on Thursday after high volatility as investors were active on both sides of the trading fence amid ongoing corporate declarations of December-end companies.

The market moved between positive and negative several times before closing slightly higher as investors were busy reshuffling their portfolios amid corporate declarations of some listed companies.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 5.19 points or 0.09 cent to settle at 5,568, after losing more than 27 points in the previous day.

Lub-rref (Bangladesh), which made its debut on Tuesday, emerged as the day’s top loser after soaring 125 per cent in the previous two days.

The local lubricant producer’s stock closed at Tk 54.70 on Thursday, losing 9.88 per cent over the previous day’s closing price of Tk 60.70 each.

Two other indices also edged up with the DSE 30 Index, comprising blue chips, gained 4.74 points to finish at 2,154 and the DSE Shariah Index (DSES) rose 1.91 points to close at 1,265.

Turnover, a crucial indicator of the market, dropped to Tk 8.09 billion, which was 8.0 per cent lower than the previous day’s turnover of Tk 8.79 billion.

Losers took a modest lead over the gainers, as out of 347 issues traded, 122 declined, 110 advanced and 115 issues remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group - was the most-traded stock with shares worth about Tk 955 million changing hands, closely followed by LankaBangla Finance (Tk 833 million), Robi (Tk 645 million), LafargeHolcim Bangladesh (Tk 463 million) and Summit Power (Tk 444 million).

Anlimayarn Dyeing was the day’s top gainer, gaining 10 per cent.

A total number of 161,625 trades were executed in the day’s trading session with a trading volume of 201.09 million shares and mutual fund units.

The market-cap of DSE dropped slightly to Tk 4,828 billion on Thursday, down from Tk 4,852 billion in the previous session.

However, the Chittagong Stock Exchange (CSE), edged lower with the CSE All Share Price Index – CASPI –losing 9.55 points to settle at 16,164 and the Selective Categories Index – CSCX shedding 4.74 points to close at 9,749.

Of the issues traded, 87 declined, 67 advanced and 65 remained unchanged on the CSE.

The port city’s bourse traded 8.89 million shares and mutual fund units with a turnover value of Tk 390 million.

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