Stocks start week in cheery...

Dhaka, Monday   26 October 2020

Stocks start week in cheery

 BSS Report daily-bangladesh.com

 Published: 07:56 PM, 18 October 2020  

File Photo

File Photo

Country’s both the bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) began week extending the upbeat of previous session although shaky investors demonstrated selling spree on sectors specific issues.

DSE closed in marginally higher note today amid choppy trading as late hour selling spree eroded most of the early gains.

The market started the session in positive note and crossed 4,900 points mark in the early hour of trading, but the benchmark index failed to continue the upward trend as the shaky investors went for selling of shares on mutual fund, textile, telecom, engineering, and fuel and power sector stocks.

But, buoyancy in general insurance, cement, financial institution and food sectors led the benchmark index to close in green.

The broad index, DSEX settled at 4877.65 points on Sunday, first working day of week, with a gain of 5.35 points or 0.10 percent.

Besides, two selective indices, Blue Chip index, DSE30 went up by 5.09 points while Shariah index, DSES declined slightly by 1.74 points to settle at 1675.55 points and 1111.22 points respectively.

Trading activities has increased by 20 percent over last session as the investors were taking positions while some others continued rebalancing their portfolio based on the latest financial disclosures.

On the DSE trading floor, a total number of 152,227 trades were executed in today’s trading session with a trading volume of 237.41 million securities.

DSE’s turnover, a crucial indicator of the market, stood at Taka 6.57 billion from Taka 5.48 billion in the previous session.

Losers took lead over gainers as out of 356 issues traded, 113 securities gained price while 196 declined and 47 remained unchanged.

The market-cap of DSE increased to Taka 3,987 billon from Taka 3,985 billion of the previous session.

General insurance sector continued to dominate the turnover chart where top gainers list were comprised of general insurance stocks, according to a market analyst, International Leasing Securities Limited (ILSL).

It said major sector witnessed mixed performance today. Among the major sectors based on market capitalization – general insurance (4.0%), financial institution (2.2%) and food (1.2%) sectors achieved price appreciation while mutual fund (-2.4%), textile (-1.9%) and telecom (- 1.5%) sectors witnessed price correction.

The investors’ activity was mostly centered on general insurance (35.0%), pharma (9.9%) and engineering (7.9%) sectors while BSCCL (3.6%), Continental Insurance (3.3%) and BeximcoPharma (3.3%) led the scrip wise turnover board, added ILSL.

BSCCL topped the turnover chart followed Continental Insurance, Asia Pacific General Insurance, BeximcoPharma, Bangladesh General Insurance, Beximco Limited, Northern Islami Insurance, Republic Insurance, Walton Hi-Tech and Brac Bank.

The top 10 gainers were Nitol Insurance, Pravati Insurance, Asia Insurance, Northern Islami Insurance, Global Insurance, Takkaful Insurance, Continental Insurance, Paramount Insurance, Central Insurance and G Q Ball Pen.

The top ten losers Keya Cosmetics, Far East Knitting, Van Guard AML BD Mutual Fund, CNA Textile, Evince Textile, Meghna Condensed Milk, Hamid Fabrics, Bangladesh Industrial Finance, United Air and Reliance 1.

On the other hand, port city bourse, Chittagong Stock Exchange (CSE) began week in green continuing the trend of previous session.

Selective categories index, CSCX and all shares price index, CASPI increased by 34.90 points and 50.16 points to stand at 8372.65 points and 13933.55 points respectively.

At CSE, a total of 8,850,639 share and mutual funds of 263 companies were traded, of which 93 issues advanced while 120 declined and 50 issues remained unchanged.

DailyBangladesh/EKD