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DSEX crosses 4,000-mark after seven days

Turnover jumps 150pc rising on block trade of Renata

FE Report | March 26, 2020 00:00:00

Stocks posted a modest gain on Wednesday, the last session before the 10-day government holiday, as the securities regulator imposed circuit breaker to boost the ailing market.

DSEX, the key index of the Dhaka Stock Exchange, went up by 31.71 points or 0.79 per cent to close at above 4,000-mark to 4,008, after losing 8.18 points in the previous day.

The trading and official activities on the bourses to remain closed from March 26 to April 4 in line with the government-announced holiday, including weekends.

Market analysts said some banks have started to invest in the capital market before the 10-day holiday.

One more person died of coronavirus, taking the total death toll to five. But no new cases of Covid-19 were reported in the last 24 hours in the country.

Bangladesh Securities and Exchange Commission imposed circuit breaker on Thursday last to curb the free-fall of stock prices.

Two other indices also edged up. The DS30 index, comprising blue chips, advanced 7.05 points to finish at 1,330 and the DSE Shariah Index rose 3.42 points to close at 920.

Turnover, an important indicator of the market, stood at Tk 3.48 billion on the country's premier bourse, climbing by 150 per cent over the previous day's five years' lowest turnover of Tk 1.39 billion.

The institutional investors, particularly banks, have injected fresh funds to shore up the stock market, commented EBL Securities.

Prices of some disinfectants and chemical stocks are also soaring as investors are anticipating brisk business due to coronavirus outbreak.

The pharmaceuticals sector continued to lead the sector-wise turnover board by a huge margin, which contributed 77.6 per cent of the day's total riding on Renata.

Turnover soared due mainly to the block trade with shares worth more than Tk 2.36 billion of Renata were traded on block trade, LankaBangla Securities said.

Majors sectors posted gain with baking saw the highest gain of 1.70 per cent, followed by cement with 1.20 per cent, power 0.40 per cent, financial institutions 0.30 per cent and telecom 0.10 per cent.

Of the issues traded, 96 advanced, 17 declined and 236 remained unchanged on the DSE trading floor.

A total number of 26,949 trades were executed in the day's trading session with trading volume of 53.80 million shares and mutual fund units.

The market-cap of the DSE also rose to Tk 3,122 billion, from Tk 3,108 billion in the previous session.

Renata topped the turnover chart with shares worth Tk 70 million changing hands on the main board, followed by Monno Ceramic, Southeast Bank, Square Pharma and LafarheHolcim.

ACI Formulations was the day's best performer, posting a gain of 9.88 per cent while Premier Cement was the worst loser, losing 6.48 per cent.

The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)-advancing 77 points to close at 11,328 and the Selective Categories Index - CSCX -gaining 46 points to finish at 6,859.

Of the issues traded, 52 gained, 10 declined and 117 remained unchanged on the CSE.

The port city bourse traded 3.66 million shares and mutual fund units worth Tk 1.12 billion in turnover.

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