DSE, CSE rebound after single-day break

FE Online Report | Published: July 25, 2019 16:04:20 | Updated: July 27, 2019 10:53:17

Stocks bounced back on Thursday amid rising trading activities, after a single-day break, backed by institutional support.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,133, gaining nearly 56 points or 1.10 per cent, after remaining flat in the previous day.

Market analysts said the recent intense sell-offs was halted by regulatory intervention coupled with bargain hunting share purchasing after stock prices fell a record low in recent bearish market.

The recent sharp fall in index prompted the securities regulator to form a committee to detect the reasons for the recent ‘unusual’ market fall.

The central bank has also asked some 20 banks to boost their investments in stocks to help revamp the country’s ailing capital market.

The prime bourse also requested the all stock brokers for ensuring legal authorisation regarding placing any sale order, also halted the sale pressure, particularly forced sale, said a leading broker.

The DSE also asked stock dealers, stock brokers and authorised representatives to strictly follow the code of conduct as enumerated in the second schedule to the securities and exchange commission Rules, 2000.

The bullish sentiment also reflected in the trading activities as total turnover on DSE stood at Tk 4.68 billion, which was 23 per cent higher than the previous day’s turnover of Tk 3.80 billion.

A total number of 122,990 trades were executed in the day’s trading session with trading volume of 182.67 million shares and mutual fund units.

The market-cap of the DSE increased to Tk 3,844 billion on Thursday, from Tk 3,794 billion in the previous day.

The gainers took a strong lead over the losers as out of 352 issues traded, 246 closed higher, 71 ended lower and 35 issues remained unchanged on the DSE trading floor.

United Power topped the turnover chart with shares worth Tk 250 million changing hands.

The other turnover leaders were National Life Insurance, Bangladesh Shipping Corporation, Fortune Shoes and Square Pharma.

SEML FBLSL Growth Fund was the day’s best performer, posting a gain of 9.90 per cent while BGIC was the day’s worst loser, losing 5.46 per cent.

The port city bourse Chittagong Stock Exchange ended higher with the CSE All Share Price Index – CASPI – advancing 193 points to settle at 15,713 while the Selective Categories Index – CSCX –gaining 112 points to finish at 9,551.

Here too, the gainers beat the losers as 205 issues ended higher, 63 lower and 15 remained unchanged.

The port city bourse traded 9.91 million shares and mutual fund units worth nearly Tk 288 million in turnover.

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