Home ›› 23 Nov 2022 ›› Stock
After two days of sharp fall, Dhaka stocks turned positive on Tuesday as the recent market corrections enticed bargain hunters to buy stocks which were being traded at a lucrative price level.
Many investors, however, stayed sidelines as most of the scrips were stuck at their floor prices, snapping investors’ hope to inject fresh funds in new issues.
The DSEX, the broad index of the Dhaka Stock Exchange (DSE), surged 39.52 points or 0.63 per cent to settle at 6,230 against 6,191 points in the previous trading session.
Among other indices, the DS30, the blue-chip index, rose 12.79 points or 0.58 per cent to close at 2,190, and the DSES, the Shariah-based index, added 12.5 points or 0.93 per cent to finish the session at 1,355.
Meanwhile, the premier bourse observed some increase in participation, while the total turnover rose by 21.8 per cent to Tk 429 crore versus the tally of Tk 352 crore in the previous session.
The market observed an upward trend throughout the session with buyers reigning the market who were mainly focusing on the recently beat-down stocks.
However, investors’ participation was yet to rebound fully across the bourse as a majority of scrips were stuck at their floor prices, said EBL Securities, a stockbroker in its daily market review, adding that such ailing stocks curbed the liquidation opportunities for investors and made them reluctant to inject fresh funds amidst the ongoing macroeconomic concerns in the country.
On the sectoral front, pharma & chemicals topped the turnover chart with a contribution of 21.8 per cent to the total turnover, followed by IT (16.2 per cent) and life insurance (14.3 per cent) sectors.
Most of the sectors displayed positive returns at the premier bourse Dhaka Stock Exchange.
Of them, the IT sector gained the most with a return of 5 per cent, followed by the paper (4.5 per cent) and the services (4.4 per cent).
On the other hand, only the tannery sector suffered yesterday at the DSE with a loss of 0.5 per cent.
Out of the 390 issues traded, 78 stocks advanced, 6 issues declined, and 306 scrips did not see any price movement on the DSE trading floor.
The port city bourse, Chittagong Stock Exchange (CSE), also closed higher with its two major indices – the selected indices (CSCX) and the all share price index (CASPI) – declining by 20.3 points and 34.2 points respectively.
