The Financial Express

Stocks stay afloat amid rising turnover

| Updated: September 16, 2020 17:53:59

Stocks stay afloat amid rising turnover

Stocks ended marginally higher on Wednesday after volatility as bargain hunters continued their appetite on sector-wise issues, driven by regulatory moves and resumption of economic activities

DSEX, the prime index of the Dhaka Stock Exchange, went up by 16.26 points or 0.31 per cent to settle at 5,116. It was the highest level of DSEX in more than one year since August 28, 2019.

Market operators said the market passed another volatile session as investors oscillated between optimism and profit booking stance.

However, the optimistic investors continued their buying binge on sector-wise issues, driven by regulatory moves and resumption of economic activities, they said.

The investors’ perception remained positive on the market based on regulatory stances taken for the interest of investors, said a leading broker.

He noted that the cautious investors preferred to book quick-gain following the recent price upsurge while optimistic investors continued their buying binge riding on regulatory moves.

The DS30 index, comprising blue chips, also advanced 2.77 points to finish at 1,764. However, the DSE Shariah Index fell 1.72 points to close at 1,168.

Turnover, a crucial indicator of the market, crossed Tk 11 billion-mark once again and total turnover amounted to Tk 11.47 billion, which was 15 per cent higher than the previous day’s turnover of Tk 9.95 billion.

Gainers outnumbered the losers as out of 356 issues traded, 185 closed higher, 120 ended lower while 51 issues remained unchanged on the DSE trading floor.

A total number of 228,668 trades were executed in the day’s trading session with a trading volume of 395.74 million shares and mutual fund units.

The market-cap on the premier bourse rose to Tk 3,867 billion on Tuesday, from Tk 3,862 billion in the previous session.

Beximco Pharma continued to top the turnover chart with shares worth Tk 303 million changing hands, followed by United Power, Beximco, Brac Bank and City Bank.

HR Textile was the best performer, posting a gain of 10 per cent while Uttara Finance was the worst loser, losing 10.60 per cent following its price adjustment after record date.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—gaining 60 points to close at 14,587 and the Selective Categories Index – CSCX advancing 29 points to close at 8,768.

Of the issues traded, 144 gained, 90 declined and 48 remained unchanged on the CSE.

The port city bourse traded 13.90 million shares and mutual fund units with turnover value of Tk 352 million.

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