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The Financial Express

Stocks post modest gains after single-day break

FE Online Report | Published: March 23, 2020 15:15:51 | Updated: March 25, 2020 11:28:31


Stocks post modest gains after single-day break

Stocks posted a modest gain on Monday, snapping a single-day losing streak, as the securities regulator imposed circuit breaker to boost the ailing market.

DSEX, the key index of the Dhaka Stock Exchange, went up by 24.57 points or 0.62 per cent to settle at 3,984, after losing nearly 15 points in the previous day.

Trading on bourses also took place for three hours from 10:30am to 1:30pm as the bourses curtailed trading time by one hour due to anxiety over coronavirus pandemic.

The presence of investors on the trading floor was also thin as the bourses discouraged their clients for rushing in the brokerage houses and encouraged more for trading through mobile apps and other internet based devices.

The Bangladesh Securities and Exchange Commission imposed circuit breaker on Thursday last to curb the free-fall of stock prices.

Under the new circuit breaker, price of no security will be allowed to hit below its average closing price of five preceding days.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 2.20 points to finish at 1,323 and the DSE Shariah Index rose 2.14 points to close at 918.

Turnover, an important indicator of the market, stood at Tk 2.54 billion on the country’s premier bourse, which was Tk 1.45 billion.

Of the issues traded, 97 advanced, 47 declined and 209 remained unchanged on the DSE trading floor.

A total number of 51,546 trades were executed in the day’s trading session with trading volume of 83.47 million shares and mutual fund units.

The market-cap of the DSE also advanced to Tk 3,112 billion, from Tk 3,102 billion in the previous session.

Monno Ceramic topped the turnover chart with shares worth Tk 120 million changing hands, followed by Apex Footwear, Orion Pharma, Orion Infusion and Far Chemicals.

Mercantile Bank was the day’s best performer, posting a gain of 10.81 per cent following its corporate declaration while Dulamia Cotton Mills was the worst loser, losing 9.54 per cent.

The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)—advancing 84 points to close at 11,272 and the Selective Categories Index - CSCX –gaining 49 points to finish at 6,827.

Of the issues traded, 53 gained, 12 declined and 138 remained unchanged on the CSE.

The port city bourse traded 3.45 million shares and mutual fund units worth Tk 59 million in turnover.

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