The Financial Express

Stocks stay afloat amid increased turnover

| Updated: August 04, 2022 16:46:08

Stocks stay afloat amid increased turnover

Stocks extended the gaining streak for the second straight session on Monday as the bargain hunters showed their buying interest in sector-wise issues by putting some confidence.

Following the previous day’s steep rise, the market opened higher and the key index rose about 60 points within the first hour of trading. However, the rest of the session wiped out half of the early gains.

Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 30.03 points or 0.48 per cent to 6,164.

DSEX recovered more than 183 points in the past two days after losing 386 points in the previous 13 days after the Eid vacation.

Market operators said the bargain hunters showed their buying interest in stocks at a lucrative price after the recent steep correction, riding on regulatory intervention.

Two other indices also ended higher. The DS30 index, comprising blue chips, rose 10.61 points to finish at 2,204 and the DSE Shariah Index (DSES) advanced 7.61 points to close at 1,347.

Turnover, another important indicator of the market, jumped to a one-month high and amounted to Tk 9.22 billion, which was Tk 62 per cent higher than the previous day’s tally of Tk 5.68 billion.

Of the 382 issues traded, 203 closed higher, 102 lower and 77 issues remained unchanged on the DSE trading floor.

Beximco was the most traded stock with shares worth Tk 441 million changing hands, closely followed by Fortune Shoes, Sonali Paper & Board Mills, Intraco Refueling Station and Square Textile.

Esquire Knit Composite was the day’s top gainer, soaring 9.97 per cent while Nitol Insurance was the day’s worst loser, losing 4.82 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index (CASPI), rising 136 points to settle at 18,112 and its Selective Categories Index (CSCX) gaining 81 points to close at 10,851.

Of the issues traded, 175 advanced, 39 declined and 72 issues remained unchanged on the CSE trading floor.

The port-city bourse traded 6.38 million shares and mutual fund units with a turnover value of Tk 184 million.

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