Stocks close in green amid volatility

Dhaka stocks closed in green on Tuesday ahead of Eid-ul-Azha holidays.

DSEX, the key index of the Dhaka Stock Exchange (DSE), went up by 25.25 points or 0.39 per cent to finish at 6,372, after losing over 30 points in the last two sessions.

The DS30 Index, which consists of the blue-chip companies, rose 17.96 points to 2,301 and the DSES Index, which represents Shariah-based listed firms, gained 4.08 points to 1,389 point.

“The equity market of the country bounced back into the positive terrain as bargain hunter investors took advantage of low-priced shares created by a period of corrections observed in the past few sessions,” said EBL Securities in a note.

Despite the market managed to settle in the green zone, volatility on the trading floor prevails as investors’ concerns loomed around rising Covid infections and weak macroeconomic cues in the country, it said.

As a result, bourses observed a considerable rise in participation, while turnover has advanced by 45 per cent and stood at Tk 960 crore against Tk 660 crore in the previous session.

On the sectoral front, Miscellaneous (15.9 per cent) issues exerted the highest turnover followed by Textile (13 per cent) and Fuel & Power (11.4 per cent) stocks.

Most of the sectors displayed positive returns, out of which Paper (3 per cent), Life Insurance (2.8 per cent), and Telecom (2.5 per cent) generated some positive returns.

In comparison, Tannery (-0.5 per cent), General Insurance (-0.4 per cent), and Bank (-0.3 per cent) exerted the most negative returns on the bourse today.

Out of the 386 issues traded, 160 advanced, 159 declined, and 67 remained unchanged.

Beximco was the most-traded stock with shares worth Tk 95 crore changing hands, followed by Robi Axiata Tk 56 crore, Titas Gas Tk 44 crore, Fu-Wang Food Tk 29 crore and Grameenphone Tk 28 crore.

The state-run Eastern Cables was the top gainer, posting a 9.96 per cent rise while Al-Arafah Islami Bank was the day’s worst loser, losing 1.98 per cent. The Chittagong Stock Exchange (CSE) also closed marginally higher with the CSE.