Stocks close positive though investors’ worries loom

Dhaka stocks edged up slightly on Sunday amid prevailing volatility throughout the trading session as many investors opted to remain cautious ahead of the securities regulator’s upcoming meeting with the IMF on capital market issues.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), gained 5.1 points or 0.07 per cent to close at 6,415 against 6,411 points in the previous trading session.

Among other indices, the DSES, the Shariah-based index, added 4.42 points or 0.31 per cent to 1,405, and the DS30, the blue-chip index, rose 5.84 points or 0.25 per cent to settle at 2,258.

Meanwhile, the Dhaka bourse observed a 15.7 per cent plunge in turnover to Tk 1,275 crore against Tk 1512 crore in the previous session.

The market observed see-saw trading throughout the session as investors’ concerns loomed around the current macroeconomic headwinds as well as the central bank’s decision to uplift the interest rate cap on consumer loans, said EBL Securities, a stockbroker, in its daily market review.

Besides, volatility remained throughout the session as investors opted to take a cautious stand ahead of the BSEC’s meeting with the IMF on the recent capital market issues, fearing a bleak market outlook amidst ongoing macroeconomic adversities, it added.

However, the price appreciation of some large-cap stocks, particularly LafargeHolcim Bangladesh Limited and Beximco Pharma, helped the core index stay afloat at the end of the trading session, EBL Securities commented.

On the sectoral front, pharma and chemical topped the turnover chart with a contribution of 17 per cent to the total turnover, followed by miscellaneous (16.2 per cent) and IT (14.1 per cent) sectors.

Most of the sectors displayed mixed returns on the trading floor of the DSE. Of them, the cement sector posted the highest gain of 4.2 per cent, followed by paper (2.6 per cent) and life insurance (2.4 per cent).

The port city bourse, Chittagong Stock Exchange (CSE), however, closed lower with its two major indices— the selected indices (CSCX), and the all-share price index (CASPI) declining by 16 points and 26.5 points respectively.