The market rebounded on Tuesday, snapping a two-day steep decline, as the bargain hunters put fresh bets on lucrative stocks.
Following the previous two days’ sharp decline, the market opened sharply lower and the key index of the prime bourse dropped 60 points within the 20 minutes of trading. But, late hours’ buying spree helped the market to close over 47 points higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 47.68 points or 0.73 per cent to settle at 6,530, after losing 102 points in the past two consecutive sessions.
Two other indices also ended higher with the DSE 30 Index, comprising blue chips, rising 26.43 points to finish at 2,436 and the DSE Shariah Index (DSES) advanced 14.72 points to close at 1,443.
Turnover, a crucial indicator of the market, jumped to Tk 5.99 billion on the country’s premier bourse, climbing by 53 per cent over the previous day’s 12-month lowest turnover of Tk 3.90 billion.
Market analysts said the stocks rebounded with renewed investors’ optimism as panicked sales stopped following the news that the securities regulator suspended 15 authorised traders for violating securities rules.
Gainers took a modest lead over the losers, as out of 378 issues traded, 195 advanced, 132 declined and 51 issues remained unchanged on the DSE trading floor.
Beximco - the flagship company of Beximco Group- topped the turnover chart with shares worth about Tk 595 million changing hands, followed by Sonali Paper & Board Mills (Tk 248 million), Fortune Shoes (Tk 203 million), JMI Hospital Requisite Manufacturing (Tk 184 million) and Bangladesh Submarine Cable (Tk 171 million).
JMI Hospital Requisite Manufacturing was the day’s top gainer, posting a 10 per cent gain further, while Aramit was the worst loser, shedding 1.99 per cent.
A total number of 154,304 trades were executed in the day’s trading session with a trading volume of 138.34 million shares and mutual fund units.
The market-cap of DSE also rose to Tk 5,268 billion on Tuesday, up from Tk 5,229 billion in the previous session.
The Chittagong Stock Exchange (CSE) also rebounded with the CSE All Share Price Index – CASPI –soaring 101 points to settle at 19,231 and the Selective Categories Index – CSCX rising 61 points to close at 11,538.
Of the issues traded, 141 declined, 108 advanced and 31 issues remained unchanged on the CSE.
The port city’s bourse traded 22.96 million shares and mutual fund units with a turnover value of Tk 486 million.
