Stocks return to green

Staff Correspondent

21 October, 2019 12:00 AM printer

The premier bourse of the country returned to the green amid volatile trading after losing 51 points in its benchmark index in the last two consecutive sessions.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 11.09 points or 0.23 per cent to settle at 4,782 points while The DS30 index, comprising blue chips, gained 6.93 points or 0.41 percent to finish at 1,685 points.

The DSE Shariah Index advanced 5.17 points or 0.47 percent to close at 1,099 points.

Of the total issuers traded, 129 advanced, 180 declined and 43 remained unchanged.

Total turnover remained almost flat over the last session as the investors adopted ‘wait-and-see’ stance.

Turnover value at DSE stood at Tk 3.12 billion, going down by 0.16 percent from the previous trading session.

“The shaky investors went for selling off shares from the beginning of the session to avoid further losses on their portfolio but the bargain hunters took position on the lucrative price levels in different sector stocks in the middle of the session,” commented International Leasing Securities in its regular market analysis.

The opportunist investors showed their buying interest on fuel & power, food, bank, telecom and pharma stocks which helped the index to close 11.1 points higher, continued International Leasing Securities.

International Leasing Securities viewed: “However, the market observed some liquidation especially in miscellaneous, financial institutions and insurance sector stocks.”

The general insurance sector dominated the turnover board and grabbed 22.1 percent of the day’s turnover, it added.

The market started the session with downbeat vibe but till the closure index turned upward amidst increased

participation of the investors, EBL Securities said in its commentary.

Last week's continued price correction tempted the bargain hunter investors to take position on lucrative price level especially in Fuel & Power, Food & Allied and Bank sectors. On the other hand, the risk averse investors opted to liquidate their holdings from Miscellaneous, Financial Institutions and Ceramics sectors, it added.

Among the major sectors, food gained 2.3 percent, the most closely followed by fuel and power 1.4 percent. Meanwhile, bank and telecom gained 0.4 percent and 0.2 percent respectively. pharma ended in the green gaining 0.4 percent value. 

Malek Spinning Mills which gained by 12.17 percent was the highest gainer of the day while Al-Haj Textile Mills became the worst loser shedding 8.88 percent.