Stocks up for third day amid lower turnover
Shares on the Dhaka Stock Exchange (DSE) ended in positive territory for the third consecutive day yesterday despite lower turnover.
The DSEX, the benchmark index of the premier bourse in Bangladesh, added 7.87 points, or 0.12 per cent, to close at 6,350.46.
The DSES Index, which comprises the Shariah-based companies, was down 0.01 per cent to 1,385.40, while the DS30 Index, which represents the best-performing shares, gained 0.02 per cent to 2,295.18.
Losers outnumbered gainers, with 157 securities advancing, 172 declining and 52 remaining unchanged.
Shares on the premier exchange posted modest gain after choppy trading as investors showed interest in the lucrative stocks, said International Leasing Securities Ltd in its daily market review.
Some investors are concerned about rising inflation and the exchange rate volatility and are worried that an increase in the lending rate can hamper the money flow to the capital market.
The concerns have deepened as the central bank is going to unveil the monetary policy statement for the upcoming fiscal year today. The case for lifting the lending rate, which has been capped at 9 per cent since April 2020, has strengthened as inflation is rising rapidly.
Among the sectors, paper, jute and bank achieved the highest
price appreciation, whereas ceramic and services suffered the most correction.
Investors' activities were mainly focused on the engineering sector, which accounted for 15 per cent of the day's total turnover, followed by textile at 14 per cent and pharmaceuticals at 13.4 per cent.
Anwar Galvanizing was the most-traded stock on the DSE, with its shares worth Tk 34.34 crore transacted.
Shinepukur Ceramics, Bangladesh Export Import Company, Bangladesh Finance, Fu Wang Food and Orion Pharma also saw significant trading activities.
Meghna Insurance Company surged 9.78 per cent to become the biggest gainer on the day, followed by Intraco Refueling Station, up 9.62 per cent and Ambee Pharmaceuticals, an increase of 8.74 per cent.
Progressive Life Insurance suffered the worst fall, losing 1.99 per cent. Janata Insurance Company, Desh Garments, Savar Refractories, Bangas, Fortune Shoes, Daffodil Computers, and Rupali Insurance Company fell by more than 1.9 per cent.
Turnover fell to Tk 805 crore from Tk 818 crore on Tuesday.
Shares on the Chittagong Stock Exchange also rose.
The CASPI, the key index, ended at 18,690.49, up 26.83 points, or 0.14 per cent.
Of the issues, 116 were up, 135 were down and 48 did not see any price movement.
Turnover went down by more than 66 per cent to Tk 20.38 crore compared to a day ago. On Tuesday, it was Tk 60.37 crore.