Stocks edge up after a bumpy ride

| Updated: October 25, 2017 05:35:24

Stocks edge up after a bumpy ride

Stocks returned to the green zone on Thursday, a day-after losing spell, as some optimistic investors took position on sector-specific issues amid earnings and dividend declarations.

Dealers observed that some investors showed their buying appetite on sector-specific shares anticipating positive earnings and dividend declarations.

Following the previous day’s mild correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on a positive note amid rising participation of investors.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced nearly 10 points while the Selective Categories Index of the port city bourse rose 14 points at 10:45am.

After first hour of trading, DSEX rose nearly 22 points while the Selective Categories Index of the port city bourse gained 30 points at 11:30am.

However, it lost some points as the session progressed and finally, the key index of the prime bourse closed more than 14 points higher.

DSEX, the benchmark index of the DSE, which replaced the DGEN in four and a half years back, finished at 6,039 – thereby advancing 14.28 points or 0.24 per cent over the previous session.

The two other indices also edged higher. The DS30 index, comprising the blue-chips, advanced 10 points or 0.46 per cent to close at 2,188 points.

The DSE Shariah Index (DSES) also advanced 1.66 points or 0.12 per cent to finish at 1,329.

Turnover, the most important indicator of the market, stood at Tk 6.0 billion, which was 13.6 per cent higher than the previous day’s turnover of Tk 5.28 billion.

A total number of 0.114 million trades were executed in the day’s trading session with trading volume of 150.59 million securities.

The total market capitalisation of the DSE stood at Tk 4,076 billion which was Tk 4,061 billion in the previous trading session.

Losers took a modest lead over the gainers as out of 333 issues traded, 172 closed lower, 125 closed higher and 36 remained unchanged on the DSE trading floor.

IFAD Autos topped the day’s turnover chart with 3.66 million shares worth Tk 476 million changing hands. Ifad was closely followed by LankaBangla Finance, IDLC Finance, Aamra Networks and Brac Bank.

Rupali Bank was the day’s best performer, posting a gain of 9.90 per cent while IFAD Autos was the day’s worst loser, plunging by 22.17 per cent following its price adjustment after record date of entitlement of rights shares.

The port city bourse Chittagong Stock Exchange (CSE) also edged higher with its Selective Categories Index - CSCX – advancing 15 points to close at 11,323.

Losers beat gainers as 140 issues closed lower, 84 closed higher and 26 remained unchanged on the CSE.

The port city bourse traded 25.19 million shares and mutual fund units worth Tk 635 million in turnover.


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