Stocks return to green after three days

DSE daily turnover dips below Tk 6.0b-mark

October 13, 2020 16:12:21

| Updated:

October 13, 2020 18:20:50

Stocks returned to the green on Tuesday, after remaining down in the past three trading sessions, as optimistic investors showed their buying appetite on sector-specific issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 30.15 points or 0.62 per cent to settle at 4,839, after losing 125 points in the past three sessions.

However, turnover hit two and a half months low on the DSE as many investors remained on the sideline amid the earnings disclosure session.

Turnover, a crucial indicator of the market, stood at Tk 5.90 billion on the country’s prime bourse, which was 15 per cent lower than the previous session’s turnover of Tk 6.94 billion.

Market analysts said the market backed the green zone as a section of investors showed their buying appetite on sector-wise stocks, particularly on Grameenphone, LafargeHolcim, Olympic Industries, Brac Bank and Square Pharma.

The market rebounded supported by institutional investors, especially the state-run Investment Corporation of Bangladesh, said a leading broker.

Two other indices also ended higher. The DS30 index, comprising blue chips, gained 11.69 points to finish at 1,649 and the DSE Shariah Index rose 7.50 points to close at 1,103.

Gainers took a strong lead over the losers as out of 356 issues traded, 185 ended higher, 98 closed lower while 73 issues remained unchanged on the DSE trading floor.

A total number of 139,729 trades were executed in the day’s trading session with a trading volume of 251.12 million shares and mutual fund units.

The insurance sector continued dominating the turnover chart with Continental Insurance topped the turnover list with shares worth Tk 338 million changing hands, followed by Asia Pacific Insurance, Walton Hi-Tech, Brac Bank and Bangladesh General Insurance Company.

Continental Insurance was also the day’s best performer, posting a gain of 9.92 per cent while Walton was the worst loser, losing 6.35 per cent.

The Chittagong Stock Exchange also rebounded with its All Shares Price Index (CASPI)—gaining 90 points to close at 13,837 while the Selective Categories Index – CSCX rising 50 points to close at 8,310.

Of the issues traded, 130 advanced, 88 declined and 46 remained unchanged on the CSE.

The port city bourse traded 9.06 million shares and mutual fund units with turnover value of more than Tk 222 million.



Leave a Reply

Your email address will not be published. Required fields are marked *