The Financial Express

Stocks snap four-day losing streak

| Updated: December 15, 2019 11:35:53

Evaly and Fianancial Express Evaly and Fianancial Express
Stocks snap four-day losing streak

Stocks posted a marginal gain on Wednesday, snapping a four-day losing streak, as some investors went to take positions in low-priced securities.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settle at 4,512, advancing 5.45 points or 0.12 per cent, after losing 196 points in four sessions.

Market analysts said that the lucratively priced fundamental stocks attracted bargain hunters, taking the market into the green zone.

Two other indices also ended slightly higher. The DS30 index, comprising blue chips, advanced 3.77 points to finish at 1,552 and the DSE Shariah Index rose 5.16 points to close at 1,017.

Turnover, a crucial indicator of the market, however, rose to Tk 2.94 billion, which was 3.60 per cent lower over the previous day’s turnover of Tk 3.05 billion.

Losers took a strong lead over the gainers as out of 351 issues traded, 165 closed lower, 123 ended higher and 63 remained unchanged on the DSE trading floor.

A total number of 98,505 trades were executed in the day’s trading session with trading volume of 109.47 million shares and mutual fund units.

The market-cap of the DSE also increased slightly to Tk 3,430 billion on Wednesday, from Tk 3,428 billion in the previous session.

Paramount Insurance topped the turnover chart with shares worth Tk 86 million changing hands, closely followed by Khulna Power, Paramount Textile, SK Trims & Industries and Progressive Life Insurance.

Paramount Insurance was the day’s best performer, posting a gain of 9.97 per cent while BIFC was the worst loser, losing 7.69 per cent.

The port city’s bourse, the Chittagong Stock Exchange, also edged up with its All Shares Price Index (CASPI)—advancing 36 points to close at 13,720 and the Selective Categories Index - CSCX –gaining 22 points to finish at 8,324.

Here too, the losers beat gainers, as 105 issues closed lower, 91 ended higher and 36 remained unchanged on the CSE.

The port city bourse traded 7.99 million shares and mutual fund units worth Tk 237 million in turnover.

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