Stocks manage modest gain after two-day slump

October 07, 2020 16:02:06

Stocks posted a modest gain on Wednesday, snapping a two-day losing streak, as bargain hunters went on buying binge on lucrative issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 5.59 points or 0.11 per cent to settle at 4,934 after losing 69 points in the past two straight sessions.

The DSE Shariah Index also gained 1.98 points to close at 1,112.  However, the DS30 index, comprising blue chips, saw a fractional loss of 0.82 point to finish at 1,677.

Turnover, a crucial indicator of the market, dropped to Tk 8.88 billion, which was 17 per cent lower than the previous session’s turnover of Tk 10.68 billion.

Market analysts said many good stocks have become lucrative following the two-day correction which encouraged some investors to take position.

Gainers took a strong lead over the losers as out of 355 issues traded, 204 ended higher, 106 closed lower while 45 issues remained unchanged on the DSE trading floor.

A total number of 184,824 trades were executed in the day’s trading session with a trading volume of 431.01 million shares and mutual fund units.

Beximco topped the turnover list with shares worth Tk 223 million changing hands, closely followed by Express Insurance, BD Finance, Walton Hi-Tech and Paramount Textile.

Continental Insurance was the day’s best performer, posting a gain of 10 per cent while newly listed Walton Hi-Tech was the worst loser, losing 6.24 per cent after its debut 10 days ago.

The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)—advancing 28 points to close at 14,113 while the Selective Categories Index – CSCX gaining 12 points to close at 8,474.

Of the issues traded, 170 advanced, 75 declined and 38 remained unchanged on the CSE.

The port city bourse traded 13.96 million shares and mutual fund units with turnover value of more than Tk 264 million.



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