Stocks bounce back after single-day break

Stocks bounced back in the gaining streak on Monday, after a single-day break, thanks to the increased participation of investors.

The market opened on a positive note and the key index rose 62 points in the mid-day. But most of the gains eroded in the late hours of trading.

Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 11.29 points or 0.16 per cent to settle at 6,941, after losing over 65 points in the previous day.

Two other indices also edged higher with the DSE 30 Index, comprising blue chips, gaining 3.55 points to finish at 2,659 and the DSE Shariah Index (DSES) advancing 0.07 point to close at 1,465.

Turnover, a crucial indicator of the market, also rose to Tk 14.21, which was 27 per cent higher than the previous day’s tally of Tk 11.11 billion.

Top positive index contributors were BRAC Bank, British American Tobacco, Square Pharma, ICB, and Dutch-Bangla Bank, jointly contributing 30 points rise of DSEX, according to amarstock.com.

Losers, however, took a strong lead over the gainers, as out of 373 issues traded, 227 declined, 115 advanced and 31 remained unchanged on the DSE trading floor.

Beximco, which lost 1.83 per cent, was the most traded stock with shares worth Tk 1.94 billion changing hands, followed by BRAC Bank (Tk 871 million), IFIC Bank (Tk 824 million), Orion Pharma (Tk 529 million) and Genex Infosys (460 million).

The newly listed Acme Pesticides, which made its shares trading debut on Sunday, was the day’s top gainer, rising 10 per cent while National Feed Mills was the worst lower, losing 9.91 per cent.

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI –rising 29 points to settle at 20,323 and the Selective Categories Index – CSCX, gaining 19 points to close at 12,215.

Of the issues traded, 164 declined, 104 advanced and14 remained unchanged on the CSE.

The port city’s bourse traded 13.04 million shares and mutual fund units with a turnover value of Tk 457 million.