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The Financial Express

Stocks rebound after choppy trading

| Updated: November 16, 2020 16:26:32


Stocks rebound after choppy trading

Stocks returned to the green on Thursday, snapping a two-day losing streak, as bargain hunters showed their buying binge on selective issues based on corporate declarations.

DSEX, the key index of the Dhaka Stock Exchange, went up by 21.33 points or 0.43 per cent to settle at 4,905, after losing 45 points in the past two straight sessions.

Market operators said bargain hunters showed their buying appetite on sector specific large-cap issues based on latest corporate declarations, taking the market index in the higher territory.

Five large-cap stocks – Investment Corporation of Bangladesh, Bangladesh Submarine Cable, Beximco Pharma, Brac Bank and Square Pharma contributed the most to gain DSEX.

Investors were active on stocks which declared satisfactory dividend and quarterly earnings, said a merchant banker.

Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 1.16 points to finish at 1,711 and the DSE Shariah Index gained 1.90 points to close at 1,117.

Turnover, a crucial indicator of the market, stood at Tk 9.88 billion, which was 1.33 per cent higher than the previous day’s turnover of Tk 9.75 billion.

Gainers took a modest lead over the losers as out of 354 issues traded, 147 ended higher, 120 closed lower and 87 issues remained unchanged on the DSE trading floor.

A total number of 175,337 trades were executed in the day’s trading session with a trading volume of 428.53 million shares and mutual fund units.

The market capitalisation of DSE also rose to Tk 3,984 billion on Thursday, from Tk 3,969 billion in the previous session.

Beximco Pharma continued to dominate the turnover chart with 7.65 million shares worth Tk 1.08 billion changing hands, followed by Beximco, Walton Hi-Tech, United Power and Brac Bank.

Agrani Insurance was the day’s best performer, posting a gain of 10 per cent while Hamid Fabrics was the worst loser, losing 9.95 per cent.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—gaining 60 points to close at 14,067 while the Selective Categories Index – CSCX rising 35 points to close at 8,470.

Of the issues traded, 111 advanced, 80 declined and 76 remained unchanged on the CSE.

The port city bourse traded 12.95 million shares and mutual fund units with a turnover value of Tk 279 million.

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