Stocks slightly up amid volatility

The benchmark index of the Dhaka Stock Exchange (DSE) managed to stay afloat, with investors chasing selective low-cap scrips in anticipation of quick-gains, while most large-cap issues faced corrections.

The DSEX, the broad index of the prime bourse, slightly rose 1.3 points to settle at 6,211 against 6,210 in the previous trading session.

Meanwhile, the premier bourse witnessed a decrease in participation, with the total DSE turnover declined by 18.4 per cent to Tk 527 crore against Tk 646 crore in the previous session.

Investors were active on both sides of the trading fence, while opportunist investors continued reshuffling their portfolio to take positions in quick rallies in selective stocks ahead of the upcoming corporate earnings announcements for the January-March quarter, said EBL Securities, a brokerage house, in its daily market review.

The IT sector topped the turnover chart with a contribution of 24.0 per cent to the total turnover of the DSE, followed by food (12.9 per cent) and pharma (10.6 per cent) stocks.

Most sectors displayed mixed returns, with the jute posting the highest gain of 6.0 per cent, followed by IT (1.9 per cent) and services (1.9 per cent).

On the other hand, the miscellaneous sector faced the highest correction of 0.4 per cent, followed by life insurance (0.4 per cent) and ceramic (0.1 per cent).

Intech Limited topped the gainers’ chart, with a return of 9.8 per cent, while Samata Leather Complex Ltd was the day’s worst sufferer with a loss of 7.1 per cent.

Out of the 392 issues traded, 52 advanced, 63 declined and 277 remained unchanged.

The port city bourse, Chittagong Stock Exchange, also settled on green terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – inched up by 1.8 points and 2.3 points, respectively.