Stocks return to black

The Dhaka stock index returned to the black yesterday after two days' drop while turnover was less than Tk 650 crore amidst lower participation of investors. 

The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), edged up 20 points, or 0.32 per cent, to 6,328.

Turnover at the DSE rose 86 per cent to Tk 623 crore from that on the previous trading day while trading hours were reduced by over two hours due to a technical glitch.

However, the turnover is quite low compared to last week's daily average turnover of Tk 1,160 crore.

The DS30, the index that consists of blue-chip companies, was down 0.07 per cent to 2,243 while the DSES, the Shariah-compliant index, was up 0.42 per cent to 1,390.

The stock markets bounced back slightly as the bargain hunters showed their buying interest on sector-specific stocks at lucrative prices as the market lost 193 points in the DSEX over the past eight days, said International Leasing Securities in its daily market review.

The market started off on a positive note, peaking at the middle of the session and then somewhat reversing due to adjustments by buyers of the session earlier.

Investors' participation increased, which reflected in the turnover which increased yesterday, it added.

All the sectors achieved price appreciation except for tannery, which fell 0.5 per cent.

Jute advanced 6.5 per cent, IT 4.1 per cent and paper 3.9 per cent.

Based on the turnover, the investors' focus was mainly on miscellaneous (17.9 per cent), pharmaceuticals (17 per cent) and engineering (14.6 per cent) sectors.

At the DSE, 86 securities advanced, 21 declined, and 248 remained the same.

Tamijuddin Textile Mills topped the gainers' list, advancing 9.99 per cent. Jute Spinners, ADN Telecom, BDCOM Online, and Bashundhara Paper Mills also rose over 9 per cent.

Apex Footwear suffered the highest correction, sliding almost 6.9 per cent. Navana CNG, International Leasing and Financial Services, Beximco and Union Capital also came up in the list of those suffering losses the most.

The Caspi, the all-share price index of Chittagong Stock Exchange, increased 20 points, or 0.10 per cent, to end at 18,653.

Of the issues that were traded on the bourse in the port city, 50 advanced, 30 declined, and 128 did not show any price movement.