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The Financial Express

Stocks bounce back after single-day break

FE Online Report | Published: February 19, 2020 16:27:20 | Updated: February 23, 2020 12:09:57


Stocks bounce back after single-day break

Stocks rebounded on Wednesday, after a single-day break, as investors showed their buying binge on sector-wise shares.

The market opened on downward trend and the key index of the major bourse dropped 35 points within first hour of trading. But rest of the session went up steadily.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4758, advancing 17.60 points or 0.37 per cent after losing 27.73 points in the previous day.

Market operators said the central bank’s fund supportive measures coupled with the government’s moves to divest shares of selected state-owned entities boosted investor’ confidence in the market.

Two other indices also ended marginally higher. The DS30 index, comprising blue chips, advanced 8.68 points to close at 1,599 and the DSES (Shariah) index gained 5.67 points to settle at 1,087.

Turnover, an important indicator of the market, stood at Tk 8.37 billion on the country’s premier bourse, falling 18 per cent over previous day’s 13 months’ highest mark of Tk 10.21 billion.

Losers, however, took a modest lead over the gainers as out of 356 issues traded, 180 closed lower, 143 ended higher and 33 remained unchanged on the DSE trading floor.

A total number of 198,135 trades were executed in the day’s trading session with trading volume of 291.25 million shares and mutual fund units.

The market-cap of the DSE also rose to Tk 3,596 billion, from Tk 3,561 billion in the previous session.

Summit Power topped the turnover chart with shares worth nearly Tk 301 million changing hands, followed by Orion Pharma, LafargeHolcim, Khulna Power and SK Trims Industries.

ICB AMCL Third Mutual Fund was the day’s best performer, posting a gain of 10 per cent while United Power was the worst loser, losing 6.25 per cent.

The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)—gaining 50 points to close at 14,554 and the Selective Categories Index - CSCX –advancing 31 points to finish at 8,828.

The gainers beat losers, as 117 issues closed higher, 111 ended lower and 33 remained unchanged on the CSE.

The port city bourse traded 26.77 million shares and mutual fund units worth nearly Tk 864 million in turnover.

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