Stocks edge higher after bumpy ride

FE Online Report | Sunday, 20 June 2021

Stocks ended marginally higher on Sunday as investors remained following a cautious stance amid the rising trend of Covid-19 cases and withdrawal of floor price restriction.

The market opened sharply lower and the key index of the major bourse lost about 42 points within the first 10 minutes of trading. However, late hours buying spree helped the market close marginally higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 16.65 points or 0.27 per cent to settle at 6,069, after ending almost flat in the previous session.

Two other indices also edged higher with the DSE 30 Index, comprising blue chips, advanced 10.23 points to finish at 2,207 and the DSE Shariah Index (DSES) gained 5.66 points to close at 1,296.

Turnover, a crucial indicator of the market, remained below Tk 20 billion mark and amounted to Tk 18.35 billion, which was 0.65 per cent lower than the previous day’s tally of Tk 18.47 billion.

Losers took a modest lead over the gainers, as out of 373 issues traded, 179 declined, 156 advanced and 38 issues remained unchanged on the DSE trading floor.

Pioneer Insurance topped the turnover chart with shares worth Tk 1.63 billion changing hands, closely followed by Beximco (Tk 1.51 billion), Orion Pharma (Tk 428 million), National Feed Mills ( 422 million) and Beximco Pharma (Tk 292 million).

National Feed Mills was the day’s top gainer, posting a 9.97 per cent gain while Sea Pearl Beach was the worst loser, losing 9.98 per cent.

A total number of 247,385 trades were executed in the day’s trading session with a trading volume of 435.32 million shares and mutual fund units.

The market cap of DSE rose to Tk 5,099 billion on Sunday, up from Tk 5,081 billion in the previous session.

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI –gaining 12 points to settle at 17,583 and the Selective Categories Index – CSCX rising 7.25 points to close at 10,583.

Of the issues traded, 151 declined, 117 advanced and 36 issues remained unchanged on the CSE.

The port city’s bourse traded 25.62 million shares and mutual fund units with a turnover value of Tk 1.53 billion.

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