Stocks inch higher after rough ride


FE ONLINE REPORT | Published: February 10, 2022 15:42:48 | Updated: February 10, 2022 17:35:19


Stocks inch higher after rough ride

Stocks edged higher on Thursday after choppy trading as most investors followed a cautious stance ahead of December-end earnings and dividend declarations.

The market moved between positive and negative several times before closing marginally higher as investors traded cautiously.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 4.56 points or 0.06 per cent to settle at 7,085. DSEX added about 34 points in the past three consecutive sessions.

Turnover, the most important indicator of the market, stood at Tk 12.54 billion, which was 9.04 per cent higher than the previous day’s tally of Tk 11.50 billion.

Market analysts said the market witnessed volatile trading in the past three trading days as investors traded cautiously amid profit booking tendency on sector-specific issues.

Favourable macroeconomic indicators, however, prompted some investors to take positions on sector-wise stocks, taking the market index and turnover marginally higher, they said.

The DSE Shariah Index also gained 4.72 points to close at 1,517. However, the DS30 index, comprising blue chips, continued to lose, shedding 7.48 points to finish at 2,597.

Gainers took a modest lead over the losers as out of 380 issues traded, 171 advanced, 163 declined and 46 issues remained unchanged on the DSE.

A total number of 266,990 trades were executed in the day’s trading session with a trading volume of 286.42 million securities.

The market capitalisation of the DSE dropped to Tk 5,667 billion on Thursday, down from Tk 5,674 billion in the previous session.

Bangladesh Shipping Corporation, which lost 1.60 per cent despite reported higher profit, was the most traded stock with shares worth Tk 869 million changing hands, followed by Orion Pharma (Tk 796 million), BATBC (Tk 504 million), Beximco (Tk 486 million) and Bay Leasing & Investment (Tk 342 million).

Union Insurance was the day’s top gainer, posting a 9.89 per cent rise while Takaful Islami Insurance was the worst loser, losing 3.62 per cent.

The Chittagong Stock Exchange (CSE) also posted marginal gains with the CSE All Share Price Index – CASPI –gaining 26 points to settle at 20,747 and the Selective Categories Index – CSCX—rising 14 points to close at 12,460.

Of the issues traded, 129 advanced, 102 declined, and 41 issues remained unchanged on the CSE.

The port city bourse traded 27.57 million shares and mutual fund units with a turnover value of Tk 635 million.

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