Stocks witness recovery after two-day slump

Stock markets on Tuesday witnessed recovery after falling two consecutive days as bargain hunters showed their buying binge on sector-specific issues.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 19.08 points or 0.32 per cent to settle at 5,820, after losing 108 points in the two consecutive sessions. The DSE 30 Index comprising blue chips also advanced 8.36 points to finish at 2,203.

However, the DSE Shariah Index (DSES) fell 2.11 points to close at 1,291.

Turnover, a crucial indicator of the market, however, plunged to one-month low to Taka 12.90 billion on the country’s premier bourse, slumping by 15 per cent over the previous day’s mark of Taka 15.19 billion.

Gainers took a modest lead over the losers, as out of 357 issues traded, 181 advanced, 106 declined and 70 remained unchanged on the DSE trading floor.

Robi Axiata topped the turnover chart followed by Beximco, Summit Power, Beximco Pharmaceuticals and LankaBangla Finance.

Agrani Insurance was the day’s best performer, posting a gain of 10 per cent while Padma Oil Company was the worst loser, losing 7.83 per cent.

The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI –advancing by 16 points to settle at 16,896 and the Selective Categories Index – CSCX gaining 16 points to close at 10,193.

Of the issues traded, 129 advanced, 90 declined and 59 remained unchanged on the CSE.

The port city’s bourse traded 24.29 million shares and mutual fund units with turnover value of Tk 868 million.

[BSS]