Stocks rebound after 13 days of losses

Stocks bounced back Monday, snapping the 13-session losing spell, as some optimistic investors took position on sector-wise stocks, taking the advantage of lucrative prices level.

Dealers said the market returned green territory after longest bearish sessions in a row largely supported by the largest market cap Grameenphone and second largest cap Square Pharmaceuticals.

However, a section of investors remained followed cautious stance amid concerned over ongoing liquidity crisis and ahead of national budget.

The market started with optimistic note in the morning and the DSE key index soared about 56 points in the mid-session, but late hours selling eroded most of the gains.

Finally, the key index of the major bourse ended more than 22 points higher while CSE All Share Price Index (CASPI) advanced 57 points at closing.

DSEX, the core index of the Dhaka Stock Exchange (DSE), settled at 5,413, gaining 22.58 points or 0.42 per cent after shedding 423 points in the past 13 consecutive sessions.

The DSE Shariah Index (DSES) gained 2.93 points or 0.23 per cent to close at 1,268. However, the DS30 index, comprising blue chips, fell 1.92 points or 0.09 per cent to finish at 2,007.

The market activities crossed Tk 5.0 billion-mark and the total turnover on the DSE amounting to Tk 5.62 billion, which was 42 per cent higher than the previous day’s Tk 3.95 billion.

The gainers took a modest lead over the losers as out of 333 issues traded, 199 closed higher, 94 closed red and 40 issues remained unchanged on the DSE trading floor.

Intraco Refuelling Station topped the day’s turnover chart with shares worth Tk 286 changing hands, closely followed by Grameenphone, Beximco, BRAC and Square Pharmaceuticals.

Prime Life Insurance was the day’s best performer, posting a gain of 8.48 per cent while Karnaphuli Insurance Company was the day’s worst loser, shedding 11.46 per cent.

The port city’s bourse CSE also rebounded with its CSE All Share Price Index – CASPI –gaining 57 points to settle at 16,692 and the Selective Categories Index - CSCX –advancing 36 points to finish at 10,096.

Here too, the gainers beat the losers as 114 issues closed higher, 85 loser and 28 remained unchanged on the CSE.

The port city bourse traded 7.36 million shares and mutual fund units worth more than Tk 297 million in turnover.

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