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Stocks snap losing streak

DSE turnover jumps 10.39pc on increased participation of investors


August 15, 2022 00:00:00


Snapping a four-day losing streak, stocks closed higher amid volatile trading on Sunday as smart investors take advantage of the last week's corrections to buy equities at lower prices.

Dhaka Stock Exchange (DSE) opened the day's session on a positive note but the benchmark DSEX index witnessed a bumpy ride throughout the session as investors were active in both buying and selling.

Finally, the DSEX settled 0.43 per cent or 26.46 points higher at 6,175.23 after losing 164 points in the previous four sessions.

Two sub-indices of DSE also ended higher. The Shariah-based index, DSES, advanced 0.38 per cent or 5.21 points to close 1,350.93 points while the blue-chip DS30 index rose 0.22 per cent or 4.91 points to settle at Tk 2,199.30.

Of 380 issues traded on Sunday, 168 advanced, 82 declined and 130 other remained unchanged.

The turnover clocked in at Tk 6.44 billion, which was 10.39 per cent higher than the turnover (Tk 5.83 billion) of the previous session.

Of the major sectors which saw price appreciation, the banking sector advanced 0.2 per cent, engineering 0.4 per cent, life insurance 0.4 per cent, miscellaneous 0.3 per cent, pharmaceuticals & chemicals 0.6 per cent, and textile 2.1 per cent.

Of the sectors which witnessed price corrections, fuel & power sector dropped 0.2 per cent, general insurance 0.1 per cent, and IT 0.1 per cent.

Investors' participation was concentrated mostly on textile sector which grabbed 19 per cent of the market turnover followed by miscellaneous (12.6 per cent), pharmaceuticals & chemicals (9.8 per cent), paper & printing (8.8 per cent) and financial institutions (7.7 per cent).

Beximco topped the turnover chart with shares worth Tk 449 million changing hands, followed by Sonali Paper & Board Mills (Tk 426 million), Fortune Shoes (Tk 288 million), Malek Spinning Mills (Tk 195 million) and Intraco Refueling Station (Tk 194 million).

Sonargaon Textile was the top gainer, jumping 10 per cent to close at Tk 71.50 each.

Wata Chemicals was the worst loser, shedding 3.31 per cent to close at Tk 201.50 each.

All the indices of Chittagong Stock Exchange (CSE) also ended marginally higher following investors' increased participation.

CASPI, the benchmark index of the CSE, advanced 0.24 per cent or 43.62 points to close at 18,171.31 points.

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