Stocks extend winning streak for third day

FE ONLINE REPORT | Wednesday, 17 August 2022

Stocks extended the winning streak for the third straight sessions Wednesday thanks to the higher participation of investors.

The market opened higher and the key index rose about 37 points within the first hour of trading. But the morning optimism faded a bit as some investors opted for booking profit, eventually ending over 15 points higher.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 15.53 points or 0.25 per cent to settle at 6,241. DSEX added nearly 93 points in the past three consecutive sessions.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 7.02 points to finish at 2,220 and the DSE Shariah Index (DSES) gained 5.0 points to close at 1,366.

Turnover, another important indicator of the market, crossed Tk 11 billion-mark and the total turnover amounted to Tk 11.60 billion, which was Tk 12 per cent higher than the previous day’s tally of Tk 10.35 billion.

Market operators said the bargain hunters showed their buying interest on stocks at a lucrative price after the recent price erosion.

The institutional investors along with the individual ones increased their participation in the market riding on regulatory measures, said a merchant banker.

Of the 380 issues traded, 156 closed higher, 132 lower and 92 issues remained unchanged on the DSE trading floor.

Beximco was the most traded stock with shares worth Tk 819 million changing hands, followed by Fortune Shoes, LafargeHolcim, Malek Spinning Mills and IPDC Finance.

Anlimayarn Dyeing was the day’s top gainer, gaining 9.81 per cent while Tamijuddin Textile Mills was the day’s worst loser, losing 4.52 per cent.

The Chittagong Stock Exchange (CSE) also closed marginally higher with the CSE All Share Price Index (CASPI), rising 56 points to settle at 18,370 and its Selective Categories Index (CSCX) gaining 34 points to close at 11,005.

Of the issues traded, 116 advanced, 86 declined and 82 issues remained unchanged on the CSE trading floor.

The port-city bourse traded nearly 8.06 million shares and mutual fund units with turnover value of Tk 247 million.

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