Stocks break losing streak

Stocks rebounded Thursday, breaking fifth session’s losing streak with turnover dropped almost three months low as natural buy pressure helping the market to make some recovery.
The market opened with a positive note and the uptrend continued till the market closure. At the end of the session, the prime index of the Dhaka Stock Exchange (DSEX) went up by 39.91 points or 0.88 per cent to close at 4,558.93 points from previous session. The other two indices also closed positive. The DS30, comprising blue chips gained 11.06 points or 0.68 per cent to close at 1,635.37 points. The DSE Shariah Index (DSES) went up by 5.77 points or 0.58 per cent to close at 989.47 points. Turnover value on DSE came down to Tk 2.77 billion, registering 18.04 per cent decline over the previous session’s value of Tk 3.38 billion. It was almost three months low turnover since Tk 2.64 billion on December 29, 2013. The gainers took a strong lead over the losers as out of 291 issues traded, 195 advanced, 65 declined and 31 issues closed unchanged on the DSE floor. The market capitalization of the DSE stood at Tk 2,856.13 billion against Tk 2,838.64 billion in the previous session. Emerald Oil Industries, which made debut Wednesday, became the top turnover leaders for the second running sessions with shares worth Tk 196.41 million changing hands followed by BSC, Square Pharma, Padma Oil and Lafarge Surrma Cement. Emerald Oil Industries was also the day’s highest gainer; posting a rise of 10.4 per cent while Kohinoor Chemicals was the day’s worst losers, slumping by 10 per cent. The port city bourse --- the Chittagong Stock Exchange (CSE) also ended higher after five session of losing streak with its Selective Categories Index – CSCX gained 74.52 points to close at 8,859.65 points. Gainers beat losers 134 to 65, with 16 issues remaining unchanged at the port city bourse that traded 6.76 million shares and mutual fund units, turnover value of Tk 296.28 million.