DSEX moves up after two-day’s pause

The benchmark of Dhaka Stock Exchange DSEX index on Sunday rose after two day’s pause in the previous two sessions hamstrung by the Eid-ul-Fitr break.

For the most part of the day, the index flip-flopped in gains and losses. It touched an intraday high of 6,673 and a low of 6,641.

Its junior indices—the Shariah-based DSES index was marginally up 3 points or 0.26 per cent at 1,447 while the blue-chip DS30 index slipped 4 points or 0.17 per cent at 2,449.

“The market is dancing to the economic outlook and the global tunes and I don’t see this changing anytime soon,” said a top analyst at an investment bank.

Walton Hi-Tech Industries, Grameenphone, Mobile Jamuna Bangladesh, Paramount Textile, IFAD Autos, RAK Ceramics and GPH Ispat were the main market pullers.

On the other hand, engineering, textile, fuel & power, ceramics and IT sectors ended higher.

“The equity market of the country observed jerky trading in the beginning but late hour buying binge with increased participation of the investors helped the indices to end in green position,” said EBL Securities in a note.

The number of investors on the trading floor surged as most investors returned to Dhaka after the Eid break. Meanwhile, followed by earnings declarations the optimistic investors exhibited their buying binge on sector-specific issues that met their expectations.

The DSE witnessed a substantial increase in participation as the turnover advanced by more than 107 per cent to stand at Tk 970 crore over the previous session.

Shinepukur Ceramics Limited was the top gainer. The stock gained nearly 10 per cent to close at Tk 34.2. The Peninsula Chittagong, AFC Agro, Active Fine Chemicals, Shasha Denims, Quasem Industries and Paramount Textile also gained between 9.94-8.94 per cent.

On the flip side, City Bank, Imam Button, Pragati Insurance, BD Wielding, Eastern Insurance, Unique Hotel & Resorts and Gemini Sea Food were among the gainers.

The overall market breadth was positive as 216 shares ended higher while 112 closed lower on the DSE.

The port city bourse, CSE, also settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have advanced by 63.1 points and 105.0 points respectively.