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The Financial Express

Stocks keep gaining on bargain hunting

FE Online Report | Published: December 29, 2019 16:49:15 | Updated: December 29, 2019 18:25:35


Stocks keep gaining on bargain hunting

Stocks extended the gaining spell for the second day in a row on Sunday as bargain hunters continued to show their buying appetite on sector specific issues.

The investors were active from the beginning of the session and the upward trend continued till the end of the session with no sign of reversal.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange, went up by 15.10 points or 0.34 per cent to settle at 4,433 over the previous session.

Market analysts said lucrative price level of fundamentally sound stocks attracted bargain hunters, taking the market in the green zone.

Two other indices edged up with the DS30 index, comprising blue chips, gained 3.3.7 points to finish at 1,512 and the DSE Shariah Index advanced 2.18 points to close at 997.

Turnover, another important indicator of the market, stood at Tk 3.0 billion, which was 1.63 per cent higher than the previous day’s turnover of Tk 3.05 billion.

The gainers took a modest lead over the losers as out of 353 issues traded, 163 closed higher, 125 ended lower and 65 issues remained unchanged on the DSE trading floor.

A total number of 93,387 trades were executed in the day’s trading session with trading volume of 112.67 million securities.

The market capitalisation of the DSE also rose to Tk 3,388 billion on Sunday, from Tk 3,384 billion in the previous session.

National Life Insurance topped the turnover chart with shares worth Tk 109 million changing hands, followed by Standard Ceramic, Daffodil Commuters, Prime Bank and Khulna Power.

Yakin Polymer was the day’s best performer, posting a gain of 9.80 per cent while Al-Haj Textile was the day’s worst loser, shedding 9.94 per cent.

The port city bourse, Chittagong Stock Exchange, also ended marginally higher with its CSE All Share Price Index - CASPI -advancing 22 points to settle at 13,486 and the Selective Categories Index - CSCX –gaining 13 points to finish at 8,176.

Here too, the gainers beat the losers as 108 issues closed higher, 85 ended lower and 39 remained unchanged.

The port city bourse traded 6.84 million shares and mutual fund units worth Tk 201 million in turnover.

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