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Stocks returned to the green on Tuesday, spanning a seven-day losing streak, as investors rushed to take positions in low-priced securities.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 32.96 points or 0.64 per cent to finish at 5,124, after losing 289 points in the past seven consecutive sessions.
Market analysts said lucratively priced fundamentally sound stocks attracted bargain hunters as their price came down to significant low.
However, they said most of the investors remained cautious reflecting low trading activities.
Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 10.96 points to close at 1,829. The DSE Shariah Index gained 8.92 points to settle at 1,175.
Turnover, another important indicator of the market, stood at two months low at Tk 2.71 billion, which was 11 per cent lower than the previous day’s turnover of Tk 3.06 billion.
The gainers took a strong lead over the losers as out of 352 issues traded, 222 advanced, 94 declined and 36 issues remained unchanged on the DSE trading floor.
Sea Pearl Beach Resorts, Which made debut Tuesday, topped the turnover chart with 5.01 million shares worth Tk 154 million changing hands.
Its share price also jumped 261 per cent, from its issue price of Tk 10 each to close at Tk 36.10 each on Tuesday at DSE.
The other turnover leaders were Fortune Shoes, BRAC Bank, Bangladesh Shipping Corporation and Sinobangla Industries.
A total number of 93,450 trades were executed in the day’s trading session with trading volume of 96.28 million securities.
The market capitalisation of the DSE also rose to Tk 3,812 billion on Tuesday, from Tk 3,787 billion in the previous session.
SEML FBLSL Growth Fund was the day’s best performer, posting a gain of 9.95 cent while First Finance was the worst loser, losing 10 per cent.
The port city bourse, Chittagong Stock Exchange, also ended higher with its CSE All Share Price Index – CASPI –advancing 82 points to settle at 15,702 and the Selective Categories Index - CSCX –gaining 49 points to finish at 9,537.
Here too, the gainers beat losers, as 152 issues closed higher, 89 lower and 27 remained unchanged on the CSE trading floor.
The port city bourse traded 6.89 million shares and mutual fund units worth Tk 164 million in turnover.