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The Financial Express

Stocks edge higher on last session of FY20

DSE turnover jumps to Tk 5.56b riding on block trade


| Updated: June 30, 2020 17:52:52


Stocks edge higher on last session of FY20

Stocks ended marginally higher on Tuesday, the last session of the fiscal year (FY) 2019-20, as some investors showed their appetite based on the quarterly earnings disclosures.

DSEX, the key index of the Dhaka Stock Exchange, went up by 7.45 points or 0.18 per cent to settle at 3,989 during the three-hour trading session.

DSEX added 26 points in the past six consecutive sessions despite the worsening pandemic situation in the country.

Two other indices also gained marginally. The DS30 index, comprising blue chips, advanced 5.47 points to finish at 1,340 and the DSE Shariah Index rose 1.51 points to close at 925.

Turnover, an important indicator of the market, jumped to Tk 5.56 billion on Tuesday riding on block trade as Tk 4.68 billion came from the block market.

Market analysts said although the floor price limitation kept the market static, some investors were relatively vibrant on the day due mainly to enjoy the existing tax benefits to reduce their income tax burden for the ending the FY 2019-20.

Most of the shares, however, remained stuck at the trading floor. Of the issues traded, 224 remained unchanged while 38 issues advanced and 24 declined on the DSE floor.

A total number of 24,223 trades were executed in the day’s trading session with a trading volume of 53.41 million shares and mutual fund units.

The market-cap on the premier bourse rose to Tk 3,119 billion on Tuesday, from Tk 3,116 billion in the previous session.

Beximco Pharma topped the turnover chart with shares worth Tk 126 million changing hands, followed by Bangladesh Submarine Cable Company, Central Pharma, Square Pharma and Indo-Bangla Pharma.

Fine Foods was the day’s best performer, posting a gain of 6.50 per cent while Keya Cosmetics was the worst loser, losing 6.67 per cent.

The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)—advancing 23 points to close at 11,332 and the Selective Categories Index - CSCX –gaining 15 points to finish at 6,862.

Of the issues traded, 25 gained, 16 declined and 94 remained unchanged on the CSE.

The port city bourse traded 8.61 million shares and mutual fund units with a turnover value of Tk 2.26 billion.

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