Stocks end week in upturn...

Dhaka, Sunday   25 October 2020

Stocks end week in upturn

 BSS Report daily-bangladesh.com

 Published: 07:54 PM, 15 October 2020  

Representational Photo

Representational Photo

Country’s both the bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) finished week in upbeat following the buying spree of bargain hunter investors.

DSE rebounded to green after a single day halt as bargain hunters showed their buying appetite on sector-specific issues amid lower trading activities..

The investors stayed afloat on trading floor seeing the news Bangladesh is set to surpass India in terms of per capita gross domestic product (GDP) in 2020 due to robust agriculture production, exports and remittance despite the corona virus pandemic.

The broad index, DSEX settled at 4872.29 points on Thursday, in the last working day of the week, with a significant gain of 33.24 points or 0.68 percent.

Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES also went up by 14.12 points and 4.51 points to settle at 1670.45 points and 1112.96 points respectively.

The investors’ attention was on the general insurance stocks following the recent heavy sell pressure on the sector.

Apart from this, optimistic investors were also taking positions on financial institution, telecom, food, fuel and power, engineering and pharma sectors.

On the DSE trading floor, a total number of 130,374 trades were executed in today’s trading session with a trading volume of 225.67 million securities.

DSE’s turnover, a crucial indicator of the market, plunged by 16 percent over last session as investors preferred sidelines to observe market movement where top gainers list was comprised of general insurance stocks. Turnover stood at Taka 5.48 billion from Taka 6.50 billion in the previous session.

Gainers took lead over losers as out of 357 issues traded, 179 securities gained price while 110 declined and 68 remained unchanged.

The market-cap of DSE increased to Taka 3,985 billon from Taka 3,946 billion of the previous session.

Major sectors witnessed better performance today. Among the major sectors based on market capitalization – general insurance (8.3%), financial institution (2.4%), and telecom (2.0%) sectors achieved price appreciation while IT (-0.7%) and paper (-0.5%) sectors witnessed price correction, according to a market analyst, International Leasing Securities Limited (ILSL).

It said investors’ activity was mostly centered on general insurance (30.4%), engineering (10.1%) and pharma (9.1%) sectors while Asia Pacific Insurance (5.0%), Beximco Pharma (3.3%) and Continental Insurance (3.0%) led the scrip wise turnover board.

Asia Pacific General Insurance topped the turnover chart followed by Beximco Pharma, Continental Insurance, BSCCL, Brac Bank, Walton Hi-Tech, Grameenphone, National Tubes, Square Pharma and Rupali Insurance.

The top 10 gainers were – Nitol Insurance, Paramount Insurance, Takkaful Insurance, Mercantile Insurance, Pravati Insurance, Purabi General Insurance, Northern Islami Insurance, City General Insurance, Asia Insurance, and SEML Lecture Equity Management Fund.

The top ten losers are – Envoy Textile, Meghna Condensed Milk, United Air, Dulamia Cotton, Shyampur Sugar Mill, Beach Hatchery, BSRM, Mithun Knitting, Fu-Wang Ceramic and Bangos.

On the other hand, port city bourse, Chittagong Stock Exchange (CSE) finished week in green.

Selective categories index, CSCX and all shares price index, CASPI increased by 41.73 points and 69.32 points to stand at 8337.75 points and 13883.39 points respectively.

At CSE, a total of 7,730,272 share and mutual funds of 269 companies were traded, of which 125 issues advanced while 83 declined and 61 issues remained unchanged.

DailyBangladesh/EKD