Despite a late-session sale spree, Dhaka stocks managed to stay afloat for the second consecutive session on Wednesday as opportunistic investors continued to seize quick-gaining opportunities in sector-specific stocks.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), inched up 4.2 points to settle at 6,343 against 6,339 in the previous trading session.
Turnover, another crucial market indicator, rose by 17.0 per cent to Tk 639 crore against the tally of Tk 546 crore in the previous session.
Block trades accounted for Tk 68 crore or 10.7 per cent of the overall turnover of the Dhaka bourse.
The general insurance sector topped the turnover chart with a contribution of 18.4 per cent of the total turnover of the DSE, followed by food and allied (13.5 per cent) and life insurance (12.7 per cent).
JMI Hospital Requisite Manufacturing Limited was the most traded stock with Tk 30 crore worth of its shares changing hands, followed by Fu Wang Food Ltd, and Sea Pearl Beach Resort and Spa Limited.
The market remained upbeat throughout the session, withstanding volatility owing to the continued buying interest in selective scrips, which investors perceived as lucrative for harnessing a short-term gain, said EBL Securities, a stockbroker, in its daily market review.
However, sellers ended up on the dominant side as investor confidence was yet to be regained across the trading floor due to the prevailing concerns regarding the market outlook, it added.
Most sectors displayed positive returns, with the travel posting the highest gain of 3.1 per cent, followed by jute (0.5 per cent) and ceramic (0.5 per cent), while the general insurance faced the highest correction of 1.3 per cent, followed by life insurance (0.7 per cent) and cement (0.2 per cent), according to EBL Securities.
As per the daily market review of Brac-epl Stock Brokerage, large-cap sectors posted mixed performance, with the pharmaceutical booking the highest gain of 0.13 per cent, followed by fuel and power (0.11 per cent), engineering (0.07 per cent), and food and allied (0.04 per cent), while the bank faced the highest loss of 0.14 per cent, followed by NBFI (0.03 per cent), and telecommunication (0.00 per cent).
CVO Petrochemical Refinery Limited rose 9.9 per cent to become the day’s top gainer, while Asia Pacific General Insurance Co was the day’s worst sufferer with a loss of 6.2 per cent.
Out of the securities traded, 78 advanced, 87 declined and 227 remained unchanged.
The port city bourse, CSE, also settled on green terrain, with its two major indices – the selected indices (CSCX), and the all-share price index (CASPI) – advancing by 5.9 points and 11.1 points respectively.
