Dhaka stocks flying green

Dhaka stocks closed in the green on Monday, with an increase in turnover thanks to investors’ buying interest in sector-specific issues in anticipation of quick gains.

DSEX, the broad index of the premier bourse Dhaka Stock Exchange (DSE), gained 8.59 points or 0.14 per cent to close at 6,244 points, compared to the previous trading session’s close of 6,235 points.

The blue-chip index, DS30, and the Shariah-based index, DSES, also recorded gains of 0.09 per cent and 0.07 per cent respectively, to close at 2,223.49 and 1,359.86 points.

Turnover increased by 4.18 per cent to Tk 451.7 crore at the DSE, with the IT sector leading the charts, accounting for 20.94 per cent of the total turnover.

The trading floor was dominated by buyers throughout the session, as the floor price restrictions set by the regulatory body Bangladesh Securities and Exchange Commission (BSEC) provided a safeguard against significant capital erosion at current prices.

However, some investors remained cautious due to macroeconomic challenges and inflationary pressures in the economy, as stated in the daily market review by EBL Securities.

Sector-specific issues saw an uptick in buying interest as investors sought quick gains, boosting market activity. On the sectoral front, IT (20.94 per cent) issues exerted the highest turnover, followed by Life Insurance (17.3 per cent) stocks.

Despite this, most sectors displayed mixed returns, with life insurance, general insurance, and tannery stocks recording the most positive returns, while food & allied, bank, fuel & power, pharmaceutical, engineering, and telecom sectors

saw losses.

Life insurance exhibited the most positive returns on the bourse on Monday (2.7 per cent) while general insurance (1.4 per cent) and tannery (0.7 per cent). Food & allied experienced the highest loss of 0.34 per cent followed by bank (-0.07 per cent), fuel & power (-0.05 per cent), pharmaceutical (-0.02 per cent), engineering (0.00 per cent), telecomm (0.00 per cent).

Out of the 391 issues traded, 95 advanced, 38 declined, and 258 remained unchanged on the DSE.

Rupali Life Insurance Company Limited recorded the highest gain of 9.8 per cent, followed by BDCOM Online with a gain of 5.71 per cent. Unilever Consumer Care Limited was the biggest loser, falling by 5 per cent.