Market insiders said the bargain hunters were active on the market following the news that the ongoing strict lockdown will not be extended after August 5. COURTESY
Stocks bounced back in a gaining streak on Wednesday, after two-day marginal correction, as investors showed their buying interest on sector-specific issues based on the latest corporate declarations.
Following the previous day’s modest correction, the market opened higher and went up steadily till the end led by banks, pharma, general insurance and life insurance stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 37.51 points or 0.58 per cent to settle above 6,400-mark at 6,417, after losing 45 points in the past two consecutive sessions.
Two other indices also ended higher with the DS30 index, comprising blue chips, advanced 14.74 points to finish at 2,323 and the DSE Shariah Index rose 8.12 points to close at 1,396.
Turnover, a crucial indicator of the market, stood at Tk 13.60 billion on the country’s premier bourse, which was 7.0 per cent lower than the previous day’s tally of Tk 14.62 billion.
Market insiders said the bargain hunters were active on the market following the news that the ongoing strict lockdown will not be extended after August 5.
The investors were also hopeful about the expansionary monetary policy statement to be announced by Bangladesh Bank on Thursday, they said.
Gainers took a strong lead over the losers, as out of 375 issues traded, 218 ended higher, 122 lower while 35 remained unchanged on the DSE trading floor.
A total number of 230,143 trades were executed in the day’s trading session with a trading volume of 433.83 million shares and mutual fund units.
Fu-Wang Ceramic topped the turnover chart with shares worth Tk 442 million changing hands, closely followed by SaifPowertec (Tk 418 million), Beximco (Tk 396 million), GPH Ispat (Tk 339 million) and Central Pharma (Tk 234 million).
Low-cap companies dominated the day’s gainers’ chart with Peoples Insurance was the day’s best performer, posting a gain of 10 per cent while Heidelberg Cement was the worst loser, losing 5.12 per cent despite the company returning to profit in the second quarter for April-June, 20201.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—gaining 89 points to close at 18,621 while the Selective Categories Index – CSCX rising 54 points to close at 11,182.
Of the issues traded, 172 advanced, 103 declined and 40 issues remained unchanged on the CSE.
The port city bourse traded 35.48 million shares and mutual fund units with a turnover value of Tk 667 million.
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