Stocks broke a five-day losing streak on Monday as buoyant investors showed a buying binge at the lowest possible prices amid the floor price system.
The market started on a positive note and the upward trend continued until end of the session amid a modest volatility in the early trading.
DSEX, the key index of the Dhaka Stock Exchange, went up by 19.50 points, or 0.48 per cent, to settle at 4,050, after losing 48 points in the past five straight sessions.
Two other indices also edged higher.
Of them, DS30 index, comprising blue chips, advanced 8.04 points to finish at 1,364 and DSE Shariah Index rose 5.06 points to close at 944.
Market operators said investors showed their buying appetite on the selective issues riding on optimism owing to a gradual reopening of the economy and revival of some specific sectors’ activity.
The securities regulator’s recent hard stance on ensuring mandatory 2.0 per cent shareholding by each director of listed companies has also had a positive impact on the stock price.
However, the market has been struggling with a poor participation of investors for long thanks to the regulator-enforced floor price mechanism and no signs of improving the ongoing Covid-19 situation, said a leading broker.
Turnover, another important indicator of the market, remained low and it amounted to Tk 2.40 billion on the country’s prime bourse, which is 2.56 per cent higher than the previous day’s Tk 2.26 billion.
Most of the shares remained stuck at the trading. Of the issues traded, 203 remained unchanged while 113 advanced and 17 declined on the DSE floor.
A total of 54,466 trades were executed in the day’s session with a volume of 84.20 million shares and mutual fund units.
The market-cap on the premier bourse also rose to Tk 3,162 billion on Monday, from Tk 3,150 billion in the previous session.
Grameenphone topped the turnover chart with shares worth Tk 124 million changing hands, closely followed by Square Pharma, Beximco Pharma, Pioneer Insurance and Indo-Bangla Pharma.
Dhaka Insurance was the day’s best performer, posting a gain of 9.89 per cent, while UCB was the worst loser, losing 8.46 per cent.
The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI) advancing 62 points to close at 11,577 and the Selective Categories Index (CSCX) gaining 37 points to finish at 7,016.
Of the issues traded, 66 gained, 15 declined and 97 remained unchanged on the CSE.
The port city bourse traded 2.13 million shares and mutual fund units with a turnover value of Tk 63 million.
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