The Financial Express

Oimex share pushes DSE, CSE higher

| Updated: November 07, 2017 14:46:12

Oimex helps bourses to rebound

Stocks rebounded on Monday, a day-after downturn, as some investors went on late hour’s buying spree on sector-wise stocks.

Meanwhile, Oimex Electrode, which made its shares trading debut Monday, attracted the investors most and dominated the turnover chart with shares of 687 million changing hands.

Each share of the company closed at Tk 114.20, jumping by 1042 per cent against issue price of Tk 10.

Dealers said the market backed to higher riding on newly listed stock and some large-cap issues.

Following the previous day’s marginal correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened positive amid slow turnover activities.

The positive trend sustained till end of the session, but last hour’s sharp rise helping the key index of the major bourse to close more than 31 points higher.

Finally, DSEX, the prime index of the DSE, which replaced the DGEN in four-and-a-half-year back, settled at 6,104, advancing 31.52 points or 0.52 per cent over the previous session.

The two other indices edged higher. The DS30 index, comprising blue chips advanced 10.12 points or 0.46 per cent to close at 2,208. The DSE Shariah Index (DSES) gained 1.42 points or 0.11 per cent to finish at 1,326.

Turnover, the most important indicator of the market, stood at Tk 6.72 billion, which was 25 per cent higher than the previous day’s turnover of Tk 5.38 billion.

Losers took a modest lead over the gainers as out of 332 issues traded, 170 closed lower, 118 closed higher and 44 remained unchanged on the DSE trading floor.

Oimex Electrode topped the day’s turnover chart with 6.12 million shares of Tk 687 million changing hands, closely followed by City Bank, IFAD Autos, Brac Bank and LankaBangla Finance.

Stylecraft was also the day’s best performer, posting a gain of 6.24 per cent while Savar Refractories was the day’s worst loser, plunging by 5.66 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also returned to higher with its Selective Categories Index - CSCX –advancing 81 points to close at 11,466.

Losers beat gainers as 112 issues closed lower, 105 closed higher and 23 remained unchanged on the CSE.

The port city bourse traded 13.76 million shares and mutual fund units worth Tk 536 million in turnover.


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