Stocks edge up amid thin participation of investors

| Updated: October 02, 2022 14:07:14

Stocks edge up amid thin participation of investors

Stocks posted a modest rise for the second day on Thursday supported by price appreciation in selective stocks withthe  participation of investors remaining low amida  confidence crisis among investors.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 16.50 points or 0.25 per cent to settle at 6,512.89, after gaining 7.34 points in the previous day.

Turnover, a crucial indicator of the market, dropped to Tk 12.17 billion on the premier bourse, which was 18 per cent lower than the previous day’s tally of Tk 14.84 billion.

Market operators said the bargain hunters showed their buying interest in selective large-cap stocks while most investors remained cautious to put fresh funds on stocks ahead of corporate declarations.

The cautious investors are being watchful since recent market corrections drove the majority of the issues down to the floor price level without potential buyers, said a leading broker.

He said many investors remained concerned about market adversity due to deteriorating exchange rates, rising inflation and worldwide economic turmoil.

Most of the traded issues, however, remained unchanged due to the ‘floor price’ limitation while over 140 companies failed to find any buyers.

Of the 365 issues traded, 94 advanced, 85 declined and 186 others remained unchanged on the DSE trading floor.

Two other indices edged higher. The DS30 index, comprising blue chips, gained 7.28 points to close at 2,330 and the DSE Shariah Index (DSES) rose 4.32 points to 1,419.

Beximco became the most-traded stock with shares worth Tk 1.11 billion changing hands, closely followed by Orion pharma (Tk 991 million), Eastern Housing (Tk 665 million), Bangladesh Building Systems (Tk 415 million) and Shinepukur Ceramic (Tk 387 million).

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index (CASPI) rising 13 points to settle at 19,193 and its Selective Categories Index (CSCX) gaining 8.0 points to close at 11,505.

Of the issues traded, 74 declined, 58 advanced and 113 issues remained unchanged.

The port-city bourse traded 8.15 million shares and mutual fund units with a turnover value of Tk 872 million.

[email protected]

Share if you like