Stocks return to green after 8-day slump

After fall in eight consecutive sessions, the stocks returned to the green on Wednesday amid increased participation of investors in the trading. “Market came back into positivity with investors’ focus on lucrative scrips,” said a stock broker. In the last few sessions’ continuous wane created some stimulus of undervaluation, which lured some of the witty participants to take position and create a natural return, he said. The trading started with a positive note in the morning, which continued throughout the session, eventually the market closed higher. DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,410..63 points, gaining 47.13 points or 1.08 per cent from previous session. The other two indices also clsoed higher. The DS30, comprising blue chips gained 14.79 points or 0.93 per cent to close at 1,604.61 points. The DSE Shariah Index (DSES) advanced 10.76 points or 1.10 per cent to close at 982.64 points. DSE turnover improved to Tk 2.71 billion which was 38.26 per cent higher compared to previous session’s 7-month low turnover of Tk 1.96 billion. The gainers took a strong lead over the losers as out of 288 issues traded, 201 advanced, 53 declined and 34 closed unchanged on the DSE floor. Square Pharmaceuticals became the top turnover leader with shares worth Tk 199.08 million changing hands followed by Meghna Petroleum, Hwa Well Textiles and BSCCL. S Alam Cold Rolled Steel Mills was the day’s highest gainer; posting a rise of 9.79 per cent while Square Textile was the day’s worst losers, slumping by 10.57 per cent. The port city bourse -- Chittagong Stock Exchange (CSE)--- also closed positive with its Selective Categories Index -- CSCX--- gained 70.25 points to stand at 8,472.38 points. Gainers beat losers 141 to 40, with 31 issues remaining unchanged at the port city bourse that traded 5.88 million shares and mutual fund units with turnover value of Tk 235.87 million.