Stocks bounce back strongly after two-day slump
Stocks rebounded strongly Tuesday, snapping the two days’ big fall, as institutional investors came up with buying lucrative shares.
Following the previous day’s steep fall, the Dhaka Stock Exchange opened on an optimistic note and ended sharply higher despite some volatility in the early trading.
At the end of the session, DSEX, the benchmark index of the DSE, recovered from the previous day’s big losses as the index soared 120.48 points or 1.75 per cent to settle at 7,005.
Earlier in the first two days of the week, DSEX eroded more than 191 points.
The two other indices also ended higher. The DS30 index, comprising blue chips, rose 17.10 points to finish at 2,661 and the DSES (Shariah) index advanced 16.86 points to close at 1,482.
Turnover, another important indicator of the market, however, dropped to Tk 13.86 billion on the prime bourse, which was 5.71 per cent lower than the previous day’s tally of Tk 14.70 billion.
The prices of more than 90 per cent traded issues closed higher, as out of 376 issues traded, 340 closed higher, 22 ended lower and 14 issues remained unchanged on the DSE trading floor.
Beximco returned to the day’s top turnover list with shares worth Tk 867 million changing hands, closely followed by Delta Life Insurance (Tk 784 million), NRB Commercial Bank (Tk 757 million), Orion Pharma (Tk 705 million) and Fortune Shoes (Tk 561 million).
Beximco was the day’s best performer, posting a gain of 9.95 per cent while Queen South Textile was the day’s worst loser, shedding 7.19 per cent.
The port city bourse CSE also rebounded strongly with the CSE All Share Price Index – CASPI – soaring 308 points to settle at 20,477 points and Selective Categories Index – CSCX – advancing 179 points to finish at 12,303 points.
Here too, the gainers beat the losers as 250 issues closed higher, 32 ended lower and 18 remained unchanged.
The port city bourse traded 13.75 million shares and mutual fund units worth nearly Tk 418 million in turnover.