The daily trade turnover on Dhaka Stock Exchange (DSE) plunged to three weeks low Tuesday as most of the investors remained cautious amid rising virus cases and upcoming quarterly declarations.
Turnover, a crucial indicator of the market, stood at Tk 11.17 billion, which was 8.0 per cent lower than the previous day's tally of Tk 12.14 billion.
However, stocks posted a marginal gain, snapping a two-day losing streak, as bargain hunters showed their buying interest on sector specific issues ahead of quarterly earning declarations.
The market opened on a positive note and the key index rose about 60 points within the first 50 minutes of trading. But, profit booking faded away most of the initial gains.
DSEX, the prime index of Dhaka Stock Exchange (DSE), went up by 13.32 points or 0.18 per cent to settle at 7,032, after losing 86 points in the past two consecutive sessions.
Market operators said stocks bounced back as bargain hunters showed their buying interest on sector-wise stocks based on quarterly earnings declarations.
However, some investors remained worried amid the rising trend of Covid-19 infections and deaths in the country, they said.
Five large-cap stocks such as Investment Corporation of Bangladesh, Heidelberg Cement, Beximco, United Power and Square Textile, jointly added over 20 points to the DSEX, according to amarstock.com, a market data analyst.
Some investors focused on sector specific issues those were trading at a very lucrative price level despite the fact that Covid-19 cases are rising in the country, said a merchant banker.
Textile sector took the market lead considering the upcoming quarterly declaration, he said.
Stocks returned to green as investors put fresh bets on sector-specific issues ahead of the forthcoming earning declarations, commented EBL Securities.
Two other indices, however, closed in the red. The DSE 30 Index, comprising blue chips, shed 0.93 points to finish at 2,613 and the Shariah Index (DSES) lost 0.39 points to close at 1,504.
Major sectors showed mixed performances with the financial institutions posting the highest gain of 2.70 per cent, followed by textile (2.50 per cent), cement (1.50 per cent) and banking (0.20 per cent).
On the other hand, food, telecom and general insurance lost 1.30 per cent, 0.80 per cent and 0.10 per cent respectively.
Gainers took a modest lead over the losers, as out of 379 issues traded, 164 advanced, 162 declined and 53 remained unchanged on the DSE floor.
Beximco, which gained 1.0 per cent, was the most traded stock with shares worth Tk 868 million changing hands, followed by Bangladesh Shipping Corporation, Fortune Shoes, Square Textile and BATBC.
Newly listed BD Thai Food & Beverage was the day's top gainer, posting a 10 per cent while the Prime Islami Life Insurance was the worst loser, losing 5.47 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI -gaining 83 points to settle at 20,635 and the Selective Categories Index - CSCX-advancing 50 points to close at 12,396.
Of the issues traded, 146 advanced, 118 declined and 31 remained unchanged on the CSE.
The port-city bourse traded 8.82 million shares and mutual fund units with a turnover value of Tk 259 million.
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