Stocks edge up after bumpy ride

FE Online Report | Published: October 17, 2017 16:30:57 | Updated: October 24, 2017 18:54:19


Stocks edged higher for the second day in a row on Tuesday as some optimistic investors took position on sector-wise issues amid earnings and dividend expectation.

Dealers said the market extended the gaining spell as some investors continued their buying appetite on sector-specific shares amid positive earnings and dividend declaration.

Following the previous day’s marginal gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive amid increasing participation of investors.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced nearly 11 points while the Selective Category Index of port city bourse gained 16 points at 10:45am.

But, the market lost all the initial gains in the mid-session. However, last hour’s buying pressure, helped the major bourse’s key index to close nearly 18 points higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, finished at 6,032, advancing 17.89 points or 0.29 per cent over the previous session.

The DSE Shariah Index (DSES) also advanced 6.90 points or 0.52 per cent to finish at 1,326. However, the DS30 index, comprising blue chips fell 7.23 points or 0.33 per cent to close at 2,182 points.

Turnover, the most important indicator of the market, stood at Tk 6.15 billion, which was 22 per cent higher than the previous day’s turnover of Tk 5.03 billion.

A total number of 0.165 million trades were executed in the day’s trading session with trading volume of 165.13 million securities.

The total market capitalisation of the DSE stood at Tk 4,058 billion which was Tk 4,054 billion in the previous trading session.

Gainers took a strong lead over the losers as out of 331 issues traded, 223 closed higher, 84 closed lower and 24 remained unchanged on the DSE trading floor.

IFAD Autos topped the day’s turnover chart with 2.11 million shares of Tk 337 million changing hands, closely followed by Uttara Bank, Aamra Networks, Brac Bank, and Square Pharmaceuticals.

Fortune Shoes was the day’s best performer, posting a gain of 9.95 per cent while Padma Life Insurance was the day’s worst loser, plunging by 16.17 per cent following its price adjustment after record date.

The port city bourse Chittagong Stock Exchange (CSE) also edged higher with its Selective Categories Index - CSCX –advancing 30 points to close at 11,317.

Gainers beat losers as 157 issues closed higher, 65 closed lower and 12 remained unchanged on the CSE.

The port city bourse traded 15.34 million shares and mutual fund units worth Tk 406 million in turnover.

 

 

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