Stocks back to green as investors take position on low price level

The Dhaka bourse Wednesday returned to green breaking the losing streak of three consecutive sessions, riding on mixed performance showed by major sectors.
The market started the session with 'optimism' and the rising trend continued for half an hour on Dhaka Stock Exchange (DSE).
After adding 55 points in the short while, the DSE broad index (DSEX) started declining and the rest of the session went through volatility.
At the end of the session, the DSEX closed with a marginal rise of 0.20 per cent or 11.40 points to close at 5,635.05 points.
Of the major sectors, engineering, pharmaceuticals & chemicals, telecommunication and textile played a market supportive role while bank and financial institutions witnessed correction.
According to International Leasing Securities, the market opened with optimism that sustained for half an hour, but some shaky investors started to sell off and eventually the prime index closed at marginally higher.
"The opportunist investors took position on some sectors considering lucrative price levels. However, the bank and financial institution sectors continued to observe selling pressure," it said.
The shariah based index (DSES) rose 0.36 per cent or 4.92 points to close at 1,338.11 points while the blue chip index, DS30, closed at 2,090.98 points with a rise of 0.26 per cent or 5.43 points.
Of 334 issues traded, 193 advanced, 92 declined and 49 were unchanged on the premier bourse.
The turnover stood at above Tk 2.24 billion, 20.65 per cent less than the turnover of the previous session.
International Leasing Securities said investors' participation was the lowest since July 10, 2016 as the investors adopted 'go slow' approach in the ongoing tempestuous capital market behaviour.
Of the declining sectors, bank lost 0.1 per cent, financial institutions 0.3 per cent and fuel & power 0.1 per cent.
Of the gaining sectors, engineering advanced 0.7 per cent, pharmaceuticals & chemicals 0.6 per cent, telecommunication 0.3 per cent and textile 0.4 per cent.
According to the market review of EBL Securities, investors' buying spree was observed on stocks of food & allied, pharmaceuticals & chemicals and telecommunication sectors.
"The market turnover slipped down to Tk 2.24 billion as investors remained watchful due to year-end declaration of bank & NBFIs," it said.
Investors' participation was concentrated mostly on textile sector, grabbing 17 per cent of the market turnover, followed by bank 15.7 per cent, engineering 13 per cent and pharmaceuticals & chemicals 10.5 per cent.
Monno Ceramic Industries topped the scrip-wise turnover chart with a value of Tk 100.2 million, followed by Grameenphone Tk 75.2 million, IFAD Autos Tk 64 million and BRAC Bank 61.8 million.
CAPM IBBL Islamic Mutual Fund was the number one gainer with a rise of 9.43 per cent to close at Tk 11.6 each while Republic Insurance Company was the worst loser after declining 3.61 per cent to close at Tk 29.30 each.
On the Chittagong Stock Exchange (CSE), the benchmark index CASPI closed at 17,423 points with a marginal rise of 37 points.
Of 206 issues traded, 109 advanced, 67 declined and 30 were unchanged and the turnover stood at above Tk 112.40 million on the port city bourse.

[email protected]