Bangladesh’s stocks return to green, turnover falls

Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to green on Wednesday, snapping a two-day losing spell, with turnover dipping below BDT 7.0 billion-mark as investors followed cautious stance.

Analysts said the market edged up as some optimistic investors took position on sector sector-wise issues.

Following the previous two days’ correction, the Dhaka Stock Exchange (DSE) the Chittagong Stock Exchange (CSE) opened positive amid slow trading activities.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 13 points while the CSE All Shares Price Index of port city bourse rose 32 points at 10:45am.

After that it started to decline. After 30 minutes of trading, the DSEX fell more than 6.0 points. However, CSE All Shares Price Index stayed positive trend till then with gaining 14 points at 11:00am.

However, the market rebounded as the session progressed. After 90 minutes of trading, DSEX advanced nearly 20 points while the CSE All Shares Price Index rose 37 points at 12noon.

Finally, DSEX closed nearly 5.0 points higher while CSE All Shares Price Index rose 5.02 points at closing.

DHAKA STOCK EXCHANGE:

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in nearly five years back, settled at 6,278, advancing 5.98 points or 0.09 percent over the previous day.

The two other indices — the DS30 index and the DSE Shariah Index (DSES) – also followed the suit to close at 2,261 and 1,381 points, after advancing 5.81 points and 0.26 point respectively.

Turnover, an important indicator of the market, came down to nearly one month low to BDT 6.79 billion, which was 16 percent lower than the previous day’s BDT 8.13 billion.

The losers took a modest lead over the gainers as out of 331 issues traded, 155 closed lower, 125 closed higher and 51 remained unchanged on the DSE trading floor.

Shahjalal Islami Bank topped the turnover chart with 8.84 million shares of nearly BDT 282 million changing hands, followed by National Tubes, Standard Bank, Fu-Wang Food and Confidence Cement.

Square Textile was the day’s best performer, posting a gain of 7.88 percent while Keya Cosmetics was the day’s worst loser, plunging by 15.48 percent following its price adjustment after record date.

CHITTAGONG STOCK EXCHANGE:

The port city bourse Chittagong Stock Exchange (CSE) also edged up after two days with CSE All Shares Price Index (CAPSI) of port city bourse, advancing 5.02 points to close at 19,420.

The Selective Categories Index – CSCX – also advanced 2.99 points to finish at 11,748.

Losers beat gainers as 119 issues closed lower, 92 closed higher and 37 remained unchanged on the CSE.

The port city bourse traded 12.34 million shares and mutual fund units worth more than BDT 337 million in turnover.

BBN/SS/AD