Stocks gain amid restrained participation

Dhaka stocks managed to close in the green amid thinner volumes on Thursday, reversing from the sharp fall in the previous session.

The market opened in green but the investor participation declined due to the extreme volatility

The benchmark DSEX index added 32 points or 0.46 per cent to settle at 6,984.

The Shariah-based DSEX index rose 8 points or 0.57 per cent to 1,475 while the blue-chip comprising the DS30 index gained 11 points or 0.42 per cent to 2,632.

Turnover declined by 9.45 per cent to Tk 1,044 crore over the previous session. The IT sector dominated the turnover chart making up 15.60 per cent of the total turnover.

“Volatility continued at the bourse amid declining market participation on the back of confusion over the policy-related regulation,” said a stockbroker.

The rally was led by mainly low cap shares. Among sectors, textile gained more than 2 per cent driven by Saiham Textile Mills surging 9.8 per cent.

Services, food, Jute and engineering increased more than 1 per cent. The large-cap sectors—bank, NBFI, pharmaceuticals and telecom—remained almost static. The worst performing sectors were insurers, cement and paper.

Stocks of 377 companies were traded, of which 214 gained in value, 106 declined and 57 remained unchanged.

SK Trims and Industries was the top gainer with a rise of 9.8 per cent despite its negative earnings in the first quarter.

The worst losers included Shurwid Industries, Dominage Steel Building Systems, FAS Finance and Investment, Appollo Ispat Complex and Fu-Wang Ceramic Industries.

Beximco Ltd was the most traded stock, followed by GSP Finance, Genex Infosys, Delta Life Insurance, BATBC, First Security Bank, SAIF Powertec and One Bank.