2 years ago

Stocks post slight gain after bumpy ride

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Stocks posted a marginal gain on Wednesday after choppy trading as investors booked profits with cautious positioning.

The market swung between positive and negative in the very beginning due to persistent profit-booking. However, mid-session binge buying helped the key index of the major bourse inch higher.

Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 6.75 points or 0.11 per cent to settle at 5,827.

Analysts said the market finished marginally higher as a section of investors continued on binge selling while some others were busy rebalancing their portfolio amid ahead of earnings declarations.

They said the investors’ confidence remained high as the country’s overall economy continued recovering in the post Covid-19 phase.

The DSE 30 Index comprising blue chips also advanced 4.10 points to finish at 2,207. However, the DSE Shariah Index (DSES) fell 1.78 points to close at 1,290.

Turnover, a crucial indicator of the market, rose to Tk 14.16 billion on the country’s premier bourse, rising 10 by per cent over the previous day’s mark of Tk 12.90 billion.

Losers took a modest lead over the gainers, as out of 355 issues traded, 159 declined, 121 advanced and 75 remained unchanged on the DSE trading floor.

Beximco topped the turnover chart with 17.10 million shares worth Tk 1.43 billion changing hands, closely followed by Robi Axiata, LankaBangla Finance, Summit Power and Beximco Pharmaceuticals.

The newly listed Energypac Power was the day’s best performer, posting a gain of 49.89 per cent while Dacca Dyeing was the worst loser, losing 9.21 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –advancing by 84 points to settle at 16,987 and the Selective Categories Index – CSCX gaining 52 points to close at 10,250.

Of the issues traded, 121 advanced, 97 declined and 60 remained unchanged on the CSE.

The port city’s bourse traded 15.69 million shares and mutual fund units with turnover value of Tk 589 million.

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