Stocks creep up as turnover surges
The Dhaka and Chattogram stock exchanges extended their gains yesterday as transactions rose sharply amid the active participation of investors.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), added 4.45 points, or 0.07 per cent, to close at 6,271, the rise for the third straight day, albeit marginally.
The DSES, the index that represents shariah-based companies, was up 0.17 per cent at 1,374 despite negative developments about some Islamic banks recently. The DS30, the blue-chip index, however, fell 0.04 per cent to 2,212.
Opportunist investors' buoyancy in ceramic, tannery, textile and pharmaceuticals saved the market from going negative while other investors reshuffled their portfolios based on upcoming earnings expectations about the stocks whose financial year ends in December, said International Leasing Securities Ltd in its daily market review.
Turnover rose 8.4 per cent to Tk 616.4 crore.
Opportunist investors' buoyancy in ceramic, tannery, textile and pharmaceuticals saved the market from going negative
The losers took a modest lead over the gainers as out of a total of 353 traded issues on the premier bourse of Bangladesh, 45 advanced, 49 declined, and 259 remained unchanged.
Among the sectors, ceramic rose 1.3 per cent, tannery added 0.9 per cent and textile was up 0.3 per cent. The jute sector fell 1 per cent, the travel sector slid 0.9 per cent and the paper sector gave up 0.6 per cent.
Investors' activity was mostly centred on the pharmaceuticals and IT sectors, which accounted for 25.1 per cent and 15.2 per cent of the turnover, respectively.
Monno Ceramic Industries topped the gainers' list on the DSE, rising 9.94 per cent. Tamijuddin Textile Mills also rose more than 9 per cent, while Kohinoor Chemicals Company and Jute Spinners were up more than 8 per cent.
Intraco Refueling Station shed 4.78 per cent, the sharpest among the losers. Paper Processing & Packaging, Sonali Aansh Industries and Pragati Life Insurance each fell over 3 per cent.
Salvo Chemical Industry was the most-traded issue on the DSE, with its shares worth Tk 42 crore transacted. Intraco Refueling Station, Genex Infosys, Monno Ceramic Industries, Bashundhara Paper Mills, and Bangladesh Shipping Corporation witnessed significant turnover as well. The Caspi, the all-share index of the Chattogram Stock Exchange, edged up nine points, or 0.05 per cent, to end the day at 18,467.
Of the 193 securities that traded on the bourse in the port city, 36 advanced, 30 declined, and 127 showed no price movement.
Turnover surged more than 645 per cent to Tk 43.88 crore, the highest since October 17, CSE data showed.