Stocks end on positive note for the fourth consecutive session

The Dhaka Stock Exchange's key index, DSEX, on Wednesday ended on positive note for the fourth consecutive session as some cautious investors continued to offload their holdings while bargain hunters took advantage of low-priced stocks. 

The DSEX gained 15.53 points or 0.25 per cent and closed at 6,241.44 on the day. The blue-chip index DS30 was up by 0.32 per cent, the Shariah-based index DSES rose by 0.37 per cent closed at 2,220.05, and 1,366.38 points, respectively.

The large-cap sectors posted a mixed performances on Wednesday, said the market commentary for the BRAC EPL.

Meanwhile, the Dhaka bourse observed an increase in participation as the total turnover advanced by 12.1 per cent and stood at Tk 1,159 crore as against Tk 1,034 crore in the previous session.

The equity indices of the Dhaka bourse witnessed a mixed reaction as some cautious investors continued to offload their holdings while bargain hunters took advantage of low priced stocks, making the prime index end up on green trajectory, said EBL Securities in the market commentary.

The market participants reacted positively to the recent initiatives from Bangladesh Bank in tightening the dollar spread to manage the on-going forex volatility along with the continuous decline in oil prices in the global markets.

Moreover, the Russian offer to the Bangladesh Petroleum Corporation (BPC) to sell finished oil has also positively influenced the investors’ sentiment.

However, some cautious investors are taking it as an opportunity to offload their holdings as they are still worried about the current macroeconomic cues in the country.

Engineering booked the highest gain of 0.54 per cent followed by Fuel & Power (0.14 per cent), Pharmaceutical (0.12 per cent). NBFI lost the most money (0.1 percent), followed by Food & Allied (0.06 percent), Telecommunication (0.04 percent), and Bank (0.02 percent).

Block trades contributed 0.8 per cent of the overall market turnover. BEXIMCO Limited had the most traded share with a turnover of Tk 81 crore.

Out of the 386 issues traded, 156 advanced, 132 declined, and 98 remained unchanged on the Dhaka Bourse.

Market capitalization reached Tk 5,08,109 crore, witnessing a rise of 0.22 per cent on the day. ANLIMAYARN was the day's top gainer and was followed by SUNLIFEINS and DSHGARME. Meanwhile, the turnover chart was topped by BEXIMCO, while FORTUNE and LHBL also had a considerable turnover.

The Bangladesh Bank on Sunday also allowed nonbank financial institutions to calculate their stock market exposures at cost prices instead of market prices.

The central bank said in a circular on Sunday that "from now on, a financial institution can calculate its stock market exposure at cost prices instead of the market prices of shares, corporate bonds, and mutual funds.

On August 4, the central bank allowed the banks to calculate their stock market exposures at cost prices. The decision took effect immediately.

The port city bourse, the Chittagong Stock Exchange (CSE, also settled on green terrain.