Stocks post modest gain after bumpy ride

FE Online Report | Published: November 25, 2019 16:05:01 | Updated: November 27, 2019 11:44:23

Stocks posted a modest gain on Monday, after a single-day break, as investors showed their buying appetite on sector specific shares.

DSEX, the prime index of the Dhaka Stock Exchange, went up by 5.19 points or 0.11 per cent to settle at 4,693, after losing more than 18 points in the previous day.

Market analysts said many good stocks have become lucrative following the recent market correction which encouraged some investors to take position.

Five large-cap stocks—Dutch-Bangla Bank, Olympic Industries, ICB, ACI and National Life Insurance helped the DSEX to close green.

However, Grameephone (GP), which is the largest company by capital, fell further by 1.35 per cent, contributing 9.0 points of the DSEX’s fall alone.

The DS30 index, comprising blue chips, also lost 2.31 points to finish at 1,635. However, the DSE Shariah Index saw a fractional gain of 0.82 point to close at 1,076.

Turnover, a crucial indicator of the market, rose to Tk 4.44 billion, which was nearly 18 per cent higher than the previous day’s turnover of Tk 3.77 billion.

A total number of 132,206 trades were executed in the day’s trading session with trading volume of 159.47 million shares and mutual fund units.

The market-cap of the DSE fell slightly to Tk 3,542 billion on Monday, from Tk 3,544 billion in the previous session.

Dutch-Bangla Bank topped the turnover chart with shares worth Tk 120 million changing hands, followed by Fortune Shoes, Asia Insurance, Purabi General Insurance and Beacon Pharma.

Saiham Textile was the day’s best performer, posting a gain of 9.96 per cent while Fortune Shoes was the worst loser, losing 9.80 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also ended slightly higher with its All Shares Price Index (CASPI)—advancing 4.17 points to close at 14,256 and the Selective Categories Index - CSCX –gaining 1.90 points to finish at 8,664.

The gainers beat losers as 108 issues closed higher, 80 ended lower and 42 remained unchanged on the CSE.

The port city bourse traded 6.73 million shares and mutual fund units worth nearly Tk 138 million in turnover.


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