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Dhaka stocks edge up

FE REPORT | June 22, 2020 00:00:00


Dhaka stocks posted a modest gain on Sunday although investors were mostly inactive due to pandemic fears and disappointment over the proposed budget.

DSEX, the key index of the Dhaka Stock Exchange, went up slightly by 2.41 points or 0.06 per cent to settle at 3,962 during the three-hour trading session.

The core index is hovering between 3,950 and 3,970 points in the past 14 sessions as most of the sellers find almost no buyers due to floor price limitation and worsening virus situation.

Turnover, a crucial indicator of the market, however, tumbled to a fresh 13-year low to Tk 386 million, which was 45 per cent lower than previous day's turnover of Tk 696 million.

Of the issues traded, 214 remained unchanged while only 17 issues advanced and 14 declined on the DSE floor.

Two other indices also edged up. The DS30 index, comprising blue chips, advanced 1.40 points to finish at 1,326 and the DSE Shariah Index saw a fractional gain of 0.34 point to close at 918.

According to International Leasing Securities, the stocks closed almost flat as the investors' losing appetite for buying of shares over the floor price mechanism and the Covid-19 pandemic.

A total number of 10,530 trades were executed in the day's trading session with a trading volume of 18.09 million shares and mutual fund units.

Linde Bangladesh topped the turnover chart with shares worth Tk 30 million changing hands, followed by Central Pharma, Beximco Pharma, Reckitt Benckiser and Bangladesh Submarine Cable Company.

Eastern Lubricants was the day's best performer for the third straight day, posting a gain of 5.84 per cent while ICB Employees Provident Mutual Fund One was the worst loser, losing 4.61 per cent.

However, the Chittagong Stock Exchange edged lower with its All Shares Price Index (CASPI)-losing 3.38 points to close at 11,250 and the Selective Categories Index - CSCX -shedding 1.88 points to finish at 6,816.

Of the issues traded, 8 gained, 9 declined and 74 remained unchanged on the CSE.

The port city bourse traded 3.38 million shares and mutual fund units worth Tk 92 million in turnovers.

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