Dhaka, Bangladesh (BBN)- Stocks gained slightly for the second day on Monday as a section of investors continued with bargain hunting in anticipation of a quick market recovery while many others remained cautious.
DSEX, the key index of Dhaka Stock Exchange, inched up by 0.09 per cent, or 4.62 points, to close at 4,722.01 points on Monday after gaining 7.08 points in the previous session.
The market was choppy throughout the session on Monday and finished the day with a slight gain as investors were active on both sides of the trading fence, according to market operators.
On the other hand, the Dhaka bourse witnessed turnover above BDT 4.0 billion on Monday after ten sessions as investors’ participation increased in some sectors including the general insurance.
The small cap companies witnessed moderate price appreciation while the performance of large cap companies was mixed on the Dhaka Stock Exchange (DSE).
Of the major sectors, bank witnessed price correction and the engineering, financial institutions and fuel & power played market supportive role.
The prime bourse opened the Monday’s session with a positive note and the DSE broad index DSEX gained 19 points within first 15 minutes.
Later, the DSEX displayed ups and downs till closure and finally settled at 4722.01 with a marginal rise of 0.09 per cent or 4.62 points.
The shariah based index DSES advanced 0.09 per cent or 1.02 points to close at 1084.71. The DS30 index comprising the blue chip securities went up by 0.59 per cent or 9.78 points to close at 1652.15.
Of total issues traded, 156 advanced, 135 declined and 50 remained unchanged on the premier bourse DSE.
Of the large cap companies, the share price of Grameenphone remained unchanged at BDT 310.50 each.
The share price of United Power Generation & Distribution Company rose 3.61 per cent to close at BDT 267.30 each.
On the other hand, the share price of British American Tobacco Bangladesh Company declined 0.22 per cent to close at BDT 1092.60 each.
At the end of the session, the turnover stood at above BDT 4.09 billion which was 12.65 per cent higher than the turnover of the previous session.
According to a market review of EBL Securities, investors exerted
Of the sectors which witnessed price appreciation, engineering advanced 0.3 per cent, financial institutions 0.4 per cent, fuel & power 1.0 per cent, general insurance 1.9 per cent, pharmaceuticals & chemicals 0.2 per cent and textile 0.4 per cent.
Of the sectors which witnessed price correction, bank declined 0.2 per cent, food & allied 0.3 per cent, and services & real estates 1.0 per cent.
General insurance sector had the highest contribution in market turnover followed by engineering, pharmaceuticals & chemicals and bank.
National Tubes topped the scrip wise turnover chart with a value of BDT 174 million followed by Wata Chemicals BDT 138 million, Asia Insurance BDT 121 million, Sonar Bangla Insurance BDT 91 million and Dutch-Bangla Bank BDT 89 million.
Bangladesh Autocars became the number one gainer with a rise of 9.94 per cent to close at BDT 165.90 each.
Kohinoor Chemical was the worst loser after declining 15.45 per cent to close at BDT 364.30 each.
On the other hand, the Chittagong Stock Exchange (CSE), the benchmark index CASPI declined 0.16 per cent or 23.31 points to close at 14325.19 points.
Of 237 issues traded, 96 advanced, 111 declined and 30 were unchanged.
And the port city bourse CSE featured a turnover of above BDT 228.72 million on Monday.