Friday, 12th April, 2024
Friday, 12th April, 2024
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Stocks open month on upbeat note; turnover slumps

Stocks ended higher on Sunday, the first trading day of November, as bargain hunters showed a buying spree on lucrative issues based on corporate declarations.

DSEX, the key index of the Dhaka Stock Exchange (DSE), went up by 50.58 points or 1.04 per cent to settle at 4,896.

Two other indices also ended higher. The DS30 index, comprising blue chips, advanced 19.88 points to finish at 1,700 and the DSE Shariah Index rose 12.10 points to close at 1,110.

Market analysts said bargain hunters showed their buying appetite on the large-cap selective issues based on latest corporate declarations.

Investors were active on stocks which declared expected dividend and quarterly earnings, taking the market in the higher note, said a merchant banker.

Turnover, a crucial indicator of the market, however, fell to Tk 7.85 billion, which was 18 per cent lower than the previous day’s turnover of Tk 9.63 billion.

Gainers took a strong lead over the losers as out of 358 issues traded, 203 ended higher, 81 closed lower while 74 issues remained unchanged on the DSE trading floor.

A total number of 159,102 trades were executed in the day’s trading session with a trading volume of 327.85 million shares and mutual fund units.

The market capitalisation of DSE rose to Tk 3,950 billion on Sunday, from Tk 3,912 billion in the previous day.

Beximco Pharma topped the turnover list with shares worth Tk 740 million changing hands, closely followed by Asia Pacific Insurance, Beximco, Grameen One: Scheme Two and Express Insurance.

Summit Alliance Port was the day’s best performer, posting a gain of 13.14 per cent while Zeal Bangla Sugar Mills was the worst loser, losing 17.45 per cent, after resuming trade in seven weeks suspension.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—soaring 157 points to close at 13,981 while the Selective Categories Index – CSCX rising 90 points to close at 8,410.

Of the issues traded, 153 advanced, 62 declined and 49 remained unchanged on the CSE.

The port city bourse traded 11.93 million shares and mutual fund units with turnover value of more than Tk 256 million.

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