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Dhaka stocks closed marginally higher on Monday, as investors continued to book profits on the early surges.
The market swung between red and green in the early hours but saw a steady gain after the benchmark DSEX index neared the 7,000-mark in the mid-session.
The benchmark DSEX index was down 65 points or 0.94 per cent to close at 6,930, hitting a high of 7,026 and a low of 6,923, scaling back from the sharp fall seen in the previous session.
The Shariah-based index saw a fractional rise of 0.07 points to 1,465 while the blue-chip comprising DS30 index rose slightly 3 points or 0.13 per cent to 2,659.
Share of debutant Acme Pesticides—the agricultural product input makers and distributors---hit the upper limit circuit at 10 per cent for the second consecutive day.
Another newly listed Sena Kalyan Insurance Company also gained for the fourth session in a row. Its shares were also locked in the upper limit circuit.
Rally in some of the heavyweights led by BRACK Bank helped the market close in the positive territory. The bank came into the spotlight on Thursday after the news that Japan’s SoftBank agreed to buy a 20 per cent stake in bKash, a subsidiary of the bank. It hit the upper limit circuit, extending its winning streak for the third straight session.
The prime bourse started with an enthusiastic note with the Bank sector dominating the trading board but the upward momentum started to fade as soon as investors engaged in profit booking sell-offs at the end of the session, said the EBL Securities in its daily market analysis.
“The bourse observed volatile swings as participants were cautious due to mixed earnings announcements. However, improvements in the macro environment, improving demand, and reopening of the economy have made bargain hunters active on selective stocks,” it said.
Investors’ participation on the bourse increased while the total turnover has advanced by 27.89 per cent and stood at Tk 1,421 crore as against Tk 1,111 crore in the previous session. Bank, miscellaneous, and textile together accounted for more than 50 per cent of the total turnover.
Banking sectors surged 2.2 per cent, followed by NBFI over 2.1 per cent, and food 1.3 per cent while ceramic fell 2.5 per cent, jute 2.4 per cent, and services 2.4 per cent. Out of the 373 issues traded, 115 advanced, 227 declined, and 31 remained unchanged.
Beximco was the most traded stock, followed by BRACK Bank, IFIC Bank, Orion Pharmaceuticals, Gnex Infosys, Mercantile Bank, and Square Pharmaceuticals.
The port city bourse, CSE, also settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) inch up by 20.0 points and 29.8 points respectively.
