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Stocks snap four-day losing streak

| Updated: June 17, 2022 09:49:43

Stocks snap four-day losing streak

Stocks ended marginally higher on Wednesday, snapping a four-day losing streak, as bargain hunters showed their buying interest in lucrative issues. 

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 13.12 points or 0.20 per cent to settle at 6,374, after losing 123 points in the past four consecutive days. 

Turnover, the crucial indicator of the market, also crossed the Tk 9.0 billion mark again and amounted to Tk 9.44 billion, which was 8.0 per cent higher than the previous day’s tally of Tk 8.75 billion. 

Market operators said bargain hunters were active on major sector issues as their shares became lucrative following the recent price erosion, taking the market turnover and index higher. 

Two other indices also edged up with the DSE 30 Index, comprising blue chips, rising 1.0 points to finish at 2,301 and the DSE Shariah Index (DSES) advanced 1.92 points to close at 1,389. 

Gainers took a modest lead over the losers, as out of 382 issued traded, 175 advanced, 161 declined and 46 remained unchanged on the DSE trading floor. 

Beximco topped the turnover list with shares worth Tk 651 changing hands, closely followed by RAK Ceramics (Tk 512 million), Shinepukur Ceramics (Tk 451 million), JMI Hospital Requisite Manufacturing (Tk 314 million) and IPDC Finance (Tk 266 million). 

Newly listed Meghna Insurance was the day’s top gainer, posting a 10 per cent gain while Bangladesh General Insurance Company was the day’s worst loser, shedding 5.47 per cent following its corporate declaration. 

The Chittagong Stock Exchange (CSE) also edged higher after four days with the CSE All Share Price Index – CASPI –gaining 62 points to settle at 18,772 and the Selective Categories Index – CSCX – rose 37 points to close at 11,255. 

Of the issues traded, 131 advanced, 128 declined and 39 issues remained unchanged on the CSE. 

The port city bourse traded 19.71 million shares and mutual fund units with a turnover value worth Tk 426 million.  

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