Stocks snap 4-day losing streak

Stocks rebounded Wednesday, snapping a four-day losing streak with turnover improved slightly as investors went for buying spree amid optimism. The market opened with a positive note, and the key index of the premier bourse gained 29 points within first 30 minutes. After one hour of trade, it went down 22 points, but rest of the session it went up sharply, eventually ended higher. At the end of the day’s session, the prime index of the Dhaka Stock Exchange (DSE) --- DSEX --- crossed 4,700 points mark once again and ended at 4,749.23 points, gaining 77.66 points or 1.66 per cent from previous session. The other two indices outperformed the market. The DS30 index, comprising blue chips went up by 31.30 points or 1.89 per cent to close at 1,687.01 points. The DSE Shariah Index (DSES) advanced 20.39 points or 2.09 per cent to close at 993.92 points. Market participation improved further and the total turnover on DSE stood at Tk 3.82 billion, registering 9.45 per cent increase over the previous session’s turnover value of Tk 3.49 billion. The gainers took a strong lead over the losers as out of 291 issues traded, 243 advanced, 28 declined and 20 issues closed unchanged on the DSE floor. The market capitalization of the DSE stood at Tk 2,893.14 billion against Tk 2,854.95 billion in the previous session.
Square Pharma dominated the top turnover chart with shares worth Tk 203.09 million changing hands followed by BSCCL, Prime Bank, GrameenPhone and Southeast Bank. ICB Fifth Mutual Fund was the day’s highest gainer, posting a rise of 8.51 per cent while Samata Leather Complex was the day’s worst losers, slumping by 6.08 per cent. The Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index – CSCX gained 126.48 points to close at 9,332.73 points. Gainers beat losers 170 to 31, with 16 issues remaining unchanged at the port city bourse that traded 8.42 million shares and mutual fund units, turnover value of Tk 372.30 million.