Stocks break losing streak
The premier bourse broke the 13-day losing streak yesterday as investors were on a buying spree.
The DSEX, the benchmark index of the Dhaka Stock Exchange, rose 22.58 points, or 0.41 percent, to end the day at 5,413.28.
“The market bounced back as opportunistic investors took position in the undervalued stocks,” said EBL Securities in its daily market review.
It said the investors were active from the beginning of the session and had buying appetite throughout the session following some volatility in the first hour.
UCB Capital, in its analysis, said the market rebounded as investors injected fresh capital into large-cap stocks.
Turnover, another important indicator of the market, soared 42 percent to Tk 561.80 crore, with 13.48 crore shares and mutual fund units changing hands.
Khulna Power Company's block transaction contributed Tk 180.73 crore to the total turnover. Of the traded issues, 199 advanced, 94 declined and 40 closed unchanged on the premier bourse.
Intraco Refueling Station dominated the turnover chart with transaction of its 59.23 lakh shares worth Tk 28.56 crore, followed by Grameenphone, Beximco, Brac Bank and Square Pharmaceuticals.
Prime Islami Life Insurance was the day's best performer, posting 8.48 percent gain, followed by Golden Harvest, Fareast Islami Life Insurance and Central Insurance. Karnaphuli Insurance Company was the day's worst loser, shedding 10 percent, followed by Eastern Cables, Eastern Bank and Standard Insurance.
Among the major sectors, cement lost 1.08 percent and telecom 0.67 percent. On the other hand, the life insurance sector gained 1.89 percent, the financial sector 1.05 percent and mutual funds 0.50 percent.
Chittagong stocks also rose yesterday with the bourse's benchmark index, CSCX, increasing 33.53 points, or 0.30 percent, to finish at 10,093.43.
Gainers beat losers as 85 stocks declined and 117 advanced, while 25 finished unchanged on the Chittagong Stock Exchange. The port city bourse traded 73.66 lakh shares and mutual fund units worth Tk 29.71 crore.