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Stocks extend positive streak

| Updated: March 31, 2022 10:39:14

Stocks extend positive streak

Stocks posted a modest gain for two consecutive sessions on Tuesday after choppy trading as investors were active on both sides of the trading fence.

After witnessing high volatility, DSEX, the key index of the Dhaka Stock Exchange (DSE), went up by 7.13 points or 0.10 per cent to settle at 6,765, after gaining over 16 points in the previous day.

The DSE 30 Index, comprising blue chips, also advanced 3.02 points to finish at 2,471. However, the DSE Shariah Index (DSES) saw a fractional loss of 0.48 points to close at 1,464.

Turnover, the crucial indicator of the market, stood at Tk 9.81 billion, which was 6.16 per cent higher than the previous day’s tally of Tk 9.24 billion.

Market insiders said the regulator’s announcement to sit with the market stakeholders to give a boost to the market, prompted some investors to put fresh funds in stocks, as they are expecting a positive outcome from the meeting, market insiders said.

As part of its measures to prop up the capital market, the Bangladesh Securities and Exchange Commission (BSEC) sent letters to the market intermediaries inviting them to the meeting scheduled for Wednesday.

Recently, the stock market regulator also wrote to several banks to invest in stocks in the existing capacity to support the market and development of the capital market.

“The investors are expecting positive interventions from the coordination meeting,” said a stockbroker.

Gainers took a modest lead over the losers as out of 380 issues traded, 178 advanced, 150 declined and 52 remained unchanged on the DSE trading floor.

Sonali Paper & Board Mills topped the turnover list with shares worth nearly Tk 716 million changing hands, followed by Genex Infosys (Tk 625 million), Fortune Shoes (Tk 547 million), Beximco (Tk 541 million) and GPH Ispat (Tk 265 million).

Northern Jute Manufacturing Company was the top gainer, posting a 8.75 per cent gain, while Dutch Bangla Bank was the day’s worst loser, losing 9.31 per cent following its price adjustment after the record date.

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI –gaining 15 points to settle at 19,804 and the Selective Categories Index – CSCX – rising 8.83 points to close at 11,879.

Of the issues traded, 139 advanced, 124 declined and 38 issues remained unchanged on the CSE.

The port city’s bourse traded 10.38 million shares and mutual fund units with a turnover value worth over Tk 317 million.

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