Trading of two firms halted over abnormal price hike
The Dhaka Stock Exchange yesterday suspended trading of two firms—Imam Button Industries and Meghna PET Industries—due to an abnormal hike in prices.
However, stocks returned to the black yesterday, breaking a three-day losing streak, as investors went on a buying spree to take benefit of low prices of shares and mutual fund units.
DSEX, the benchmark general index of the DSE, closed the day at 3,954.48 points, after gaining 26 points or 0.66 percent.
In the last 10 trading days, the market reversed positively after a 210-point fall, buoyed by the increased level of trading volume in insurance, mutual fund and cement sectors, LankaBangla Securities said in its daily market analysis.
Investors were seemed to be more cautious in their trading activities ahead of Eid, said IDLC Investments in its analysis.
A total of 0.88 lakh trades were executed with 8.62 crore shares and mutual fund units changing hands on the Dhaka bourse.
Of the 288 issues that traded on the DSE floor, 208 advanced, 52 declined and 28 remained unchanged.
Most of the major sectors ended the day in the black: cement 2.94 percent, engineering 1.93 percent and textile 1.86 percent. However, life insurance lost 0.54 percent, bank 0.32 percent and foods 0.15 percent.
Envoy Textiles featured in the most traded stocks chart with 22.74 lakh shares worth Tk 12.45 crore changing hands.
Aamra Technologies was the biggest gainer of the day, as it posted 9.96 percent gain, while Third ICB Mutual Fund was the worst loser, plunging by 7.92 percent.
The Chittagong Stock Exchange also gained on the day with its selective category index, CSCX, going up by 41.12 points to close at 7,712.20 points.
Gainers beat losers 147 to 51, with 17 issues remaining unchanged on the port city bourse that traded 90.22 lakh shares and mutual fund units with a turnover of Tk 26.12 crore.