The Financial Express

Stocks post modest gain after two days of slump

| Updated: January 31, 2022 09:20:17

Stocks post modest gain after two days of slump

Stocks posted a marginal gain on Tuesday, snapping a two-day losing streak, as buoyant investors put fresh bets on sector-specific issues, beating the virus worries.

Following the previous two days’ fall, the market opened higher and the key index rose about 60 points within the first 50 minutes of trading. But, late hours profit booking sell-off eroded most of the early gains.

Finally, DSEX, the prime index of Dhaka Stock Exchange (DSE), went up by 13.32 points or 0.18 per cent to settle at 7,032, after losing 86 points in the past two consecutive sessions.

Two other indices, however, closed in the red. The DSE 30 Index, comprising blue chips, shed 0.93 points to finish at 2,613 and the Shariah Index (DSES) lost 0.39 points to close at 1,504.

Turnover, a crucial indicator of the market, stood at Tk 11.17 billion, which was 8.0 per cent lower than the previous day’s tally of Tk 12.14 billion.

Market operators said stocks rebounded as bargain hunters showed their buying interest on sector-wise sectors ahead of earnings declarations.

However, some investors stayed worried amid rising trend of Covid-19 infections and deaths in the country, they said.

Gainers took a modest lead over the losers, as out of 379 issues traded, 164 advanced, 162 declined and 53 remained unchanged on the DSE floor.

Beximco, which gained 1.0 per cent, was the most traded stock with shares worth Tk 868 million changing hands, followed by Bangladesh Shipping Corporation, Fortune Shoes, Square Textile and BATBC.

Newly listed BD Thai Food & Beverage was the day’s top gainer, posting a 10 per cent while the Prime Islami Life Insurance was the worst loser, losing 5.47 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 83 points to settle at 20,635 and the Selective Categories Index – CSCX—advancing 50 points to close at 12,396.

Of the issues traded, 146 advanced, 118 declined and 31 remained unchanged on the CSE.

The port-city bourse traded 8.82 million shares and mutual fund units with a turnover value of Tk 259 million.

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