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Stocks bounce back

  • Staff Correspondent
  • 11 January, 2022 12:00 AM
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Stocks bounce back

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Stocks rebounded after a single-day break in the gaining streak as the bargain hunters put fresh bets on sector-wise lucrative stocks.

The DSEX, the prime index of the Dhaka Stock Exchange (DSE), advanced 61.54 points or 0.89 per cent to 6994, after losing more than 54 points in the previous day.

Two other indices also ended higher. The DSE 30 Index, comprising blue chips, went up 27.42 points or 1.06 per cent to finish at 2,606 and the DSE Shariah Index (DSES) gained 12.55 points or 0.85 per cent to close at 1,480.

The turnover, a crucial indicator of the market, stood at Tk 14.87 billion, which was 1.78 per cent higher than the previous day’s tally of Tk 14.61 billion.

Gainers took a modest lead over the losers, as out of 377 issues traded, 178 advanced, 158 declined and 41 remained unchanged on the DSE trading floor.

The state-run Power Grid Company, which gained 9.73 per cent, was the most traded stock with shares worth Tk 1.01 billion changing hands, followed by Beximco (Tk 943 million), Bangladesh Shipping Corporation (Tk 656 million), Bangladesh Submarine Cable (Tk 562 million) and Fortune Shoes (Tk 510 million).

Popular Life Insurance was the day’s highest gainer, soaring 10 per cent, closely followed by Fareast Islami Life Insurance Co. Ltd, Rangpur Foundry Ltd, Bangladesh Shipping Corporation, Information Services Network Ltd, Bashundhara Paper Mills Limited, Coppertech Industries Limited, Eastern Housing Limited, ACME Pesticides Limited and Power Grid Company of Bangladesh Ltd.

Dhaka Dyeing was the day’s worst loser, losing 6.12 per cent.

It was closely followed by Taufika Foods and Lovello Ice-cream PLC, KDS Accessories Limited, Sonali Paper & Board Mills Ltd, ICB AMCL Second Mutual Fund, SEML IBBL Shariah Fund, Social Islami Bank Limited, Mutual Trust Bank Ltd, RN Spinning Mills Limited and Mir Akhter Hossain Limited.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 166 points to settle at 20,477 and the Selective Categories Index – CSCX—rising 101 points to close at 12,300.

Of the issues traded, 140 advanced, 127 declined and 38 remained unchanged on the CSE.

The port city bourse traded 13.10 million shares and mutual fund units with a turnover value of Tk 448 million.