The Financial Express

Stocks end first session higher after long closure

Pharma cos dominate DSE turnover chart

| Updated: May 31, 2020 16:54:59

Stocks end first session higher after long closure

Stocks on both the bourses ended higher on Sunday, the first trading session after a 66-day closure, thanks to regulatory move to boost the ailing capital market.

DSEX, the key index of Dhaka Stock Exchange, went up by 52.15 points or 1.30 per cent to close at 4,060 over the last session that took place on March 25 last.

The trading and settlement activities on the bourses remained shut from March 26 to May 30 in line with the government holidays as part of efforts to contain the spread of deadly virus outbreak.

Trading on the bourses resumed today maintaining necessary health safety guidelines issued by the Ministry of Health and Family Welfare, after a hiatus of more than two months due to lethal COVID-19 outbreak.

Trading continued for three hours till 1:30pm, instead of usual four hours, as the bourses cut one hour trading time due to the virus outbreak

However, the presence of investors was rather thin in the brokerage houses as many investors are yet to return in Dhaka after the longest closure of the market since the Liberation War.

Besdies, many investors were conducting trade through phone, said a leading stockbroker. 

The bourses also discourage clients for rushing to the brokerage houses and encourage more for trading through mobile apps and other internet based devices due to ongoing pandemic.

Market analysts said some institutional investors, including banks and state-run ICB, have started investing in the capital market.

However, growing tension over the impacts of COVID-19 outbreak remained in the investors’ mind, they said.

Bangladesh Securities and Exchange Commission imposed circuit breaker on March 19 last to curb the free-fall of stock price.

Meanwhile, two other indices of country’s prime bourse also ended higher. The DS30 index, comprising blue chips, soared 34.53 points to finish at 1,365 and the DSE Shariah Index rose 30.91 points to close at 951.

Turnover, one of the important indicators of the market, stood at Tk 1.43 billion on the country’s premier bourse, falling 59 per cent over the last session’s of Tk 3.48 billion on March 25.

Prices of some disinfectants and chemical stocks soared as investors were anticipating brisk business due to coronavirus outbreak.

Of the issues traded, 60 advanced, 68 declined and 195 remained unchanged on the DSE trading floor due to circuit breaker.

A total number of 28,873 trades were executed in the day’s trading session with trading volume of 43.95 million shares and mutual fund units.

The market-cap of the DSE also rose to Tk 3,161 billion, from Tk 3,122 billion in the last session on March 25.

Square Pharma topped the turnover chart with shares worth Tk 196.56 million changing hands, followed by Beximco Pharma, Grameenphone, Orion Pharma and Beximco.

Beximco was the day’s best performer, posting a gain of 10 per cent while AB Bank was the worst loser, losing 10 per cent.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI) advancing 141 points to close at 11,469 and the Selective Categories Index (CSCX) gaining 92 points to finish at 6,952.

Of the issues traded, 31 gained, 24 declined and 54 remained unchanged on the CSE.

The port city bourse traded 1.61 million shares and mutual fund units worth Tk 33.57 million in turnover.


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