Stocks end higher with soaring trading activities

Stocks ended higher on Sunday with soaring trading activities as optimistic investors showed their buying interest on lucrative issues.

Following the previous week’s recovery trend, the market opened on an upbeat note which sustained until the end of the session as bargain hunters took positions on large-cap stocks.

DSEX, the prime index of the DSE, went up by 68.51 points or 1.24 per cent to settle at 5,584. DSEX added 95 points in the two consecutive sessions.

Market operators said bargain hunters showed their buying interest on selective stocks which saw massive price erosion in the past few weeks.

The news of remittance increased 33.51 per cent year-on-year in the first eight months of this fiscal year, foreign exchange reserve surpassed $44 billion mark and capital base of the country’s banks improved marginally in 2020 tempted the bargain hunters to take positions, said a top broker.

Two other indices also ended higher with the DSE 30 Index, comprising blue chips, soared 43.37 points to finish at 2,156 and the DSE Shariah Index (DSES) rose 7.86 points to close at 1,256.

Turnover, a crucial indicator of the market, also rose to two weeks high to Tk 8.76 billion, which was 24 per cent higher than the previous session’s turnover of Tk 7.07 billion.

However, losers took a modest lead over the gainers, as out of 355 issues traded, 133 declined, 122 advanced and 100 remained unchanged on the DSE trading floor.

British American Tobacco Bangladesh backed to the topped turnover chart with shares worth about Tk 1.16 billion changing hands. Shares of BATBC, the third largest market-cap stock, also jumped 7.49 per cent to close at Tk 598.50 each.

It was followed by LafargeHolcim (Tk 749 million), Sumit Power (Tk 641 million), Robi (Tk 611 million) and Beximco (Tk 438 million).

LafargeHolcim was the day’s top gainer, posting a gain of 9.50 per cent, followed by BATBC (7.49 per cent), Summit Power (7.33 per cent), Dutch-Bangla Bank (6.35 per cent) and Berger Paints (6.12 per cent).

Vanguard AML Rupali Bank Balanced Fund was the worst loser, losing 9.27 per cent, followed by C&A Textile, BIFC, International Leasing and Premier Leasing.

A total number of 159,270 trades were executed in the day’s trading session with a trading volume of 215.56 million shares and mutual fund units.

The market-cap of DSE also rose to Tk 4,809 billion on Sunday, up from Tk 4,730 billion in the previous session.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –soaring 224 points to settle at 16,200 and the Selective Categories Index – CSCX rising 137 points to close at 9,770.

Of the issues traded, 95 declined, 83 advanced and 55 remained unchanged on the CSE.

The port city’s bourse traded 12.52 million shares and mutual fund units with turnover value of Tk 622 million.

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