Stocks rebounded in the positive terrain on Monday, snapping a seven-day losing streak, as bargain hunters showed their buying appetite on sector-wise shares.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 24.89 points or 0.56 per cent to settle at 4,434, after losing 348 points in the past seven straight sessions.
Market insiders said some investors showed their appetite on selective stocks amid lucrative price level after seven-day steep correction.
Positive support of institutional investors including state-run Investment Corporation of Bangladesh (ICB) also played a vital role to close the markets in the positive note, said a leading broker.
Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 5.03 points to finish at 1,479 and the DSE Shariah Index gained 1.47 points to close at 1,030.
Turnover, an important indicator of the market, stood at Tk 4.20 billion on the country’s premier bourse, falling further by 8.0 per cent over the previous day’s turnover of Tk 4.56 billion.
Gainers took a strong lead over the losers as out of 355 issues traded, 229 closed higher, 75 ended lower and 51 remained unchanged on the DSE trading floor.
A total number of 124,090 trades were executed in the day’s trading session with trading volume of 181.11 million shares and mutual fund units.
The market-cap of the DSE also rose to Tk 3,398 billion, from Tk 3,379 billion in the previous session.
Far Chemical Industries to top the turnover chart with shares worth Tk 135 million changing hands, followed by VFS Thread Dyeing, Grameenphone, Indo-Bangla Pharma and Orion Infusion.
Global Heavy Chemicals was the day’s best performer, posting a gain of 9.94 per cent while FAS Finance was the worst loser, losing 10 per cent.
The port city’s bourse, the Chittagong Stock Exchange, also edged higher with its All Shares Price Index (CASPI)—advancing 39 points to close at 13,559 and the Selective Categories Index - CSCX –gaining 22 points to finish at 8,219.
Here too, the gainers beat losers, as 141 issues closed higher, 73 ended lower and 21 remained unchanged on the CSE.
The port city bourse traded 9.06 million shares and mutual fund units worth Tk 160 million in turnover.
babulfexpress@gmail.com