Stocks rebound after single-day pause

Beximco Green Sukuk makes dismal debut

| Updated: January 16, 2022 18:34:35

Stocks rebound after single-day pause

Stocks rebounded on the gaining streak Thursday, after a single-day break, as the bargain hunters put bets on sector-wise issues, beating virus worries.

The DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 21.16 points or 0.30 per cent to 7,017, after losing more than 53 points in the previous day.

Meanwhile, Beximco Green-Sukuk Al Istisna – the first-ever asset-backed security by a private sector entity in Bangladesh – made a dismal trading debut as its price gained only 1.0 per cent on its debut day.

Beximco Sukuk traded between Tk 99.50 and Tk 110, before closing at Tk 101 each on Thursday, against its face value of Tk 100 each.

A total number of 6,006 trades were executed in the day’s trading session with a trading volume of 3.23 million securities of Beximco Sukuk on the DSE floor.

Market analysts said some institutional investors, including the state-run Investment Corporation of Bangladesh, supported the market from the front, taking the index in green territory.

Two other indices also nudged higher. The DSE 30 Index, comprising blue chips, advanced 9.51 points to finish at 2,616 and the DSE Shariah Index (DSES) gained 6.93 points to close at 1,501.

Turnover, a crucial indicator of the market, however, dropped to Tk 12.42 billion, which was 25 per cent lower than the previous day’s tally of Tk 16.64 billion.

Losers took a modest lead over the gainers, as out of 378 issues traded, 167 declined, 156 advanced and 55 remained unchanged on the DSE trading floor.

The state-run Bangladesh Shipping Corporation backed on track after a single-day break, with shares worth Tk 807 million changing hands, followed by Power Grid  Company (Tk 609 million), Beximco (Tk 544 million), Paramount Textile (Tk 401 million) and RAK Ceramic (Tk 380 million).

Rangpur Foundry was the day’s highest gainer, gaining 9.98 per cent while Social Islami Bank was the day’s worst loser, losing 5.0 per cent.

The Chittagong Stock Exchange (CSE) also bounced back with the CSE All Share Price Index – CASPI –gaining 48.54 points to settle at 20,545 and the Selective Categories Index – CSCX-- rising 28.42 points to close at 12,342.

Of the issues traded, 131 declined, 120 advanced and 46 remained unchanged on the CSE.

The port city bourse traded 10.67 million shares and mutual fund units with a turnover value of Tk 423 million.

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