Stocks make strong comeback

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Highlights: Stocks investor behaviour remains the same as the market goes up; they hurriedly move to park funds in junk stocks for quick gains like in the past After a dull time for many years, the capital market gained momentum as investors' participation increased and fresh funds poured in The DSEX rose to an all-time high of 7,410 points on 11 October but following sell pressures, the index has now fallen below the 7,000-mark Former BSEC chairman Faruq Ahmad Siddiqi suggested that, instead of being lured by quick gains, investors should study the fundamentals and track records for good returns Some worthless stocks made a lot of noise, luring in investors. Prices skyrocketed, much to the excitement of newcomers. Then the bad guys in the market sold those shares at a much higher profit, leaving the inexperienced investors high and dry. That's what happened in 1996, a turbulent year when many new investors suffered financial burnout. Some stocks with weak fundamentals in the capital market had become surprisingly

Stocks make strong comeback

Stocks made a strong comeback today as many shares became lucrative because of a massive fall in the last two days.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), soared 120 points, or 1.74 per cent, to 7,005.

Turnover, however, fell to Tk 1,386 crore from Tk 1,470 crore a day ago.

At the DSE, 340 stocks advanced, 22 declined and 14 remained unchanged.

KDS Accessories topped the gainers’ list that rose 10 per cent followed by Active Fine Chemicals, Bangladesh Monospool Paper, Nurani Dyeing, and Eastern Housing.

Stocks of Beximco Ltd traded mostly that worth Tk 86 crore followed by Delta Life Insurance, NRB Commercial Bank, Orion Pharmaceuticals, and Fortune Shoes.

Olympic Accessories shed mostly that dropped 9.90 per cent followed by Summit Power, Dragon Sweater, Islamic Finance, and Tung Hai Knitting.

 

Due to the rise of BATBC, Robi Axiata, ICB, Beximco Ltd and Titas Gas, the benchmark index of the DSE rose 28 points, according to amarstock, a stockmarket data provider based in Bangladesh.

The Chattogram bourse also rose today. The CASPI, the main index of the Chittagong Stock Exchange (CSE), increased 274 points, or 1.36 per cent, to 20,444.

Among 300 stocks traded, 245 rose, 33 fell and 22 remained unchanged.

 

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