The Financial Express

Stocks post marginal gain for fourth day

DSEX surges 246 points

| Updated: December 30, 2020 12:34:00

Evaly and Fianancial Express Evaly and Fianancial Express
Stocks post marginal gain for fourth day

Stocks posted a marginal gain on Monday, extending the winning streak for the fourth straight sessions, as investors remained active on major sectors stocks.

DSEX, the prime index of Dhaka Stock Exchange (DSE), went up by 15.73 points or 0.29 per cent to settle at 5,344. It has been the highest since July 4, 2019, when DSEX was 5,380.

Total market-cap of DSE surged to Tk 4,418 billion on Monday, hitting an all-time high, driven by the Robi issue. The previous day’s market-cap was also a record Tk 4,393 billion.

Robi’s market capitalisation reached more than Tk 129 billion according to Monday's closing price.

Shares of Robi Axiata soared further by 9.78 per cent to close at Tk 24.70 on Monday, after a flying debut on Thursday last.

Turnover, a crucial indicator of the market, stood at Tk 13.47 billion on the country’s premier bourse, falling by 12 per cent over the previous day’s six months highest turnover of Tk 15.29 billion.

Two other indices also ended higher. The DS30 index, comprising blue chips, gained 8.57 points to finish at 1,924 and the DSE Shariah Index rose 4.87 points to close at 1,231.

Market operators said the investors continued their buying appetite on sector-wise issues amid year-end dividend expectations.

They also attribute the recent directive given by the prime minister to ministries to formulate another stimulus package, the finance minister’s relentless efforts to buoy up the market and the decisive and tough measures initiated by the securities regulator in recent months to the ongoing turnaround of the market.

The news that the chairman of the securities regulator on Thursday expressed his firm optimism to get a sustainable capital market within the next six months, also temped investors to stay afloat, said a leading merchant banker.

He noted that factors like lower returns on the money market amid liquidity glut, hope for the Covid-19 vaccine and strong regulatory actions against wrongdoers prompted sideline investors to inject fresh funds into stocks.

Gainers took a modest lead over the losers, as out of 361 issues traded, 154 advanced, 142 declined and 65 remained unchanged on the DSE trading floor.

A total number of 232,457 trades were executed in the day’s trading session with a trading volume of 470.19 million shares and mutual fund units.

Beximco continued to dominate the turnover chart with 27.81 million shares worth Tk 1.30 billion changing hands, followed by IFIC Bank, Beximco Pharma, LankaBangla Finance and Square Pharma.

BD Finance was the day’s best performer, posting a gain of 10 per cent, while Mozzafar Hoassin Spinning Mills was the worst loser, losing 6.79 per cent.

The Chittagong Stock Exchange (CSE) also edged higher with its All Shares Price Index (CASPI)—gaining 47 points to close at 15,407 while the Selective Categories Index – CSCX rising 29 points to close at 9,292.

Of the issues traded, 132 advanced, 117 declined and 43 remained unchanged on the CSE.

The port city bourse traded 17.66 million shares and mutual fund units with a turnover value of more than Tk 471 million.

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