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The Financial Express

Stocks rebound amid low turnover

| Updated: October 15, 2020 20:44:47


Stocks rebound amid low turnover

Stocks rebounded on Thursday, after remaining flat in the previous session, as optimistic investors showed their buying appetite on sector-specific issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 33.24 points or 0.68 per cent to settle at 4,872, after losing 0.80 point in the previous day.

However, turnover hit two and a half months low on the DSE as many investors remained on the sideline amid the earnings disclosure session.

Turnover, a crucial indicator of the market, stood at Tk 5.48 billion on the country’s prime bourse, which was 15 per cent lower than the previous session’s turnover of Tk 6.50 billion.

Market analysts said the market backed the green zone as a section of investors showed their buying appetite on sector-wise stocks.

The market rebounded supported by institutional investors, especially the state-run Investment Corporation of Bangladesh, said a leading broker.

Two other indices also ended higher. The DS30 index, comprising blue chips, gained 14.12 points to finish at 1,670 and the DSE Shariah Index rose 4.51 points to close at 1,112.

Gainers took a strong lead over the losers as out of 357 issues traded, 179 ended higher, 110 closed lower while 68 issues remained unchanged on the DSE trading floor.

A total number of 130,374 trades were executed in the day’s trading session with a trading volume of 225.67 million shares and mutual fund units.

Asia Pacific Insurance topped the turnover list with shares worth Tk 270 million changing hands, followed by Beximco Pharma, Continental Insurance, BSCCL and Brac Bank.

The insurance sector dominated the gainer’s chart with Nitol Insurance was the day’s best performer, posting a gain of 9.95 per cent while Envoy Textile was the worst loser, losing 6.0 per cent following its poor dividend and earnings disclosure.

The Chittagong Stock Exchange also rebounded with its All Shares Price Index (CASPI)—gaining 69 points to close at 13,883 while the Selective Categories Index – CSCX rising 41 points to close at 8,337.

Of the issues traded, 125 advanced, 83 declined and 61 remained unchanged on the CSE.

The port city bourse traded 7.73 million shares and mutual fund units with turnover value of more than Tk 154 million.

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