Home ›› 05 Jan 2022 ›› Stock
Stocks rode a roller-coaster in early trading on Dhaka Stock Exchange Tuesday, first falling and then rising before ending the day flat.
The benchmark DSEX index declined around 30 points after the opening bell, before bouncing back to a gain of more than 10 points or 0.15 per cent to settle at 6,892. The index gained a four-day day winning streak.
Bulls and bears were seen locking horns throughout the day and the benchmark index oscillated between red and green territories. It closed the day with a meagre rise. Continuous fall in the value of Taka against the US dollar coupled with ballooning imports and widening trade deficit may haunt the trading environment, according to dealers.
The Shariah-based DSES index ended flat at 1,456, after gaining over 4 points or 0.32 per cent at 1,456 while the blue-chip comprising DS30 index was marginally down 4 points or 0.19 per cent at 2,571. Following the rise in trading activity in the previous session, it decreased as the turnover was down over 10 per cent to Tk 1,182 crore. The trade was concentrated mainly on the miscellaneous, insurance, pharmaceuticals and textile sectors, together making up almost 60 per cent of the total turnover.
Investors parked money into insurers, cement, paper and printing, IT, services and pharmaceuticals, and selling shares of companies that were more tied to the travel and leisure, miscellaneous, food, jute and banks.
Insurance companies were the best performers as the top three gainers came from the sector. Fareast Life Insurance, Meghna Life Insurance and Rupali Life Insurance hit the upper limit circuit at 10 per cent each.
On the flip side, mutual fund units led by ICB 3rd Mutual Fund were deep in the red after the rally in the previous session.
Analysts say many investors were shifting into more low-cap stocks as they brace for a slowdown in trading activity.
Beximco Ltd was the most traded stock with shares worth Tk 106 crore changing hands, followed by BSC, Fortune Shoes, Active Fine Chemicals, Taufika Foods and Lovello Ice-cream, and Genex Infosys.
