Stocks rebounded on Monday after the benchmark indexe fell to three-month lows on Sunday as some optimistic investors showed their buying appetite on sector-wise stocks.
Analysts said the market backed to the green, after three-day slump, as investors are taking position in fundamentally strong issues like Grameenphone (GP) shares.
GP, the largest market-cap listed company’s share price surged 2.01 per cent to close at Tk 409.50 each.
The news of an emergency meeting at the Dhaka Stock Exchange (DSE) on Monday evening to identify reasons behind the recent sharp fall in indices and turnover also made investors hopeful, said a leading broker.
Following the previous three days’ fall, the both bourses opened optimistic note and the positive trend continued till end of the session choppy trading.
At the end of the session, DSEX, the benchmark index of the DSE, went up by 18 points or 0.32 per cent to settle at 5,530 after losing 119 points in the past three sessions.
The two other indices of the Dhaka bourse also ended higher. The DS30 index, comprising blue chips, advanced 7.81 points to finish at 1980 and DSES (Shariah) index rose 4.49 points to settle at 1,286.
The trading activities also increased to Tk 3.86 billion, which was 9.0 per cent higher than the previous day’s three months lowest turnover of Tk 3.54 billion.
A total number of 98,199 trades were executed in the day’s trading session with trading volume of 70.65 million securities.
The market cap of DSE also increased to Tk 4138 billion which was Tk 4127 billion in the previous day.
The gainers took a modest lead over the losers as out of 345 issues traded, 184 closed higher, 111 ended lower and 50 issues remained unchanged on the DSE trading floor.
Singer Bangladesh topped the day’s turnover chart with 2.43 million shares worth Tk 468 million changing hands, closely followed by Grameenphone, United Power, BATBC and Monno Ceramic.
Al-Arafa Islami Bank was the day’s best performer, posting a gain of 5.50 per cent while Singer Bangladesh was the day’s worst loser, shedding 29.11 per cent following its price adjustment after record date.
The port city bourse, the CSE, also rebounded with the CSE All Share Price Index – CASPI – gaining 7.70 points to settle at 16,896 points and the Selective Categories Index – CSCX – advancing 2.50 points to finish at 10,238.
Here too, the gainers beat the losers as 114 issues closed higher, 84 ended lower and 29 remained unchanged.
The port city bourse traded 4.65 million shares and mutual fund units worth nearly Tk 148 million in turnover.
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