Stocks rebound as pre-Eid sale pressure ease

FE Online Report | Published: August 14, 2018 15:48:03 | Updated: August 16, 2018 10:55:45

Stocks returned to the green on Tuesday after a single-day break as pre-Eid sale pressure eased some extent.

Market insiders said last minutes strong buying spree on sector-wise large-cap stocks helped the market ended higher.

Meanwhile, trading on the bourses will remained closed tomorrow (Wednesday) due to National Mourning Day and only three trading sessions are left before Eid holidays.

The market opened on positive note and mid-session saw some volatility. But last 30 minutes’ strong buying pressure helped the core index to close more than 29 points higher.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.72 points or 0.55 per cent to settle at 5,408.

The two other indices ended higher. The DS30 index, comprising blue chips, advanced 16.47 points to finish at 1,901 points and the DSE Shariah Index surged 14.43 points to close at 1,242.

However, trading activities fell to Tk 5.80 billion, which was 10 per cent lower than the previous day’s Tk 6.48 billion.

“Trading activities fell below Tk 6.0 billion-mark as a section of investors refrained themselves from investing ahead of Eid-ul-Azha,” said a stockbroker.

Of the 335 issues traded on the DSE trading floor, 158 ended higher, 130 closed lower and 47 issues remained unchanged on the DSE trading floor.

A total number of 127,881 trades were executed in the day’s trading session with trading volume of 172.22 million securities.

The market capitalisation of the DSE stood at Tk 3,842 billion on the day which was Tk 3,816 billion in the previous session.

BBS Cables continued to top the turnover chart with 2.23 million shares worth Tk 275 million changing hands, closely followed by IFAD Autos, Hamid Fabrics, Shepherd Industries and Active Fine Chemicals.

Provati Insurance was the day’s best performer, posting a gain of 9.80 per cent while Padma Life Insurance was the worst performer, losing 16.42 per cent following the news of its no divided declaration.

The port city bourse CSE also closed marginally higher with its CSE All Share Price Index – CASPI –advancing 46 points to settle at 16,584 and the Selective Categories Index - CSCX – gaining 31 points to finish at 10,045.

The gainers beat losers as 114 issues closed higher, 100 ended lower, with 21 issues remained unchanged on the CSE.

The port city bourse traded 8.48 million shares and mutual fund units worth nearly Tk 230 million in turnover.

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