Indices up, turnover down

Dhaka stocks Monday regained some losses in the last hour of the day's session after a steep correction observed in previous session.

But the turnover value dipped to lowest amount observed in last 45 days.

Market insiders said on Monday all indices rose marginally as the undervalued stocks tracked the buying spree.

The market started its session positively but after six minutes the benchmark index DSEX failed to continue its positive trend and lost 27 points at around 10.52 am.

Later, the DSEX overcame its initial loss and ended the rest of the session through fluctuation.

At the end of the day's session, the DSEX rose 0.54 per cent or 24.19 points to close at 4477 points on Dhaka Stock Exchange (DSE).

The DSE Shahriah Index went up by 0.68 per cent or 7.46 points to close at 1094 points, whereas the blue chips index DSE30 gained 0.60 per cent or 10.37 points to close at 1730 points.

"Market rebounded form initial losses in last hours as undervalued stocks tracked the buying spree in market," said a market commentary of the LankaBangla Securities.

Among 311issues traded, 189 advanced, 86 declined and remaining 36 remained unchanged on the premier bourse.

At the end of the session, the turnover value stood at above Tk 3.18 billion, which is 9.74 per cent less than the value observed in previous trading session.

"After the yesterday's steep correction, market regained some of its lost value as it fell too much too quick, recently. The upward move was not very sharp, gathering strength in much of the session and acting only in later hours," said another market commentary of the IDLC Investments.

On Monday, the United Airways topped the chart of the turnover leaders with a value of Tk 154.24 million, followed by the Heidelberg Cement, Khulna Power Company Limited (KPCL) and Grameenphone.  

Hakkani Pulp topped the chart of top ten gainers with a rise of 9.64 per cent or Tk 2.2 to close at Tk 25.

The company's shares' prices rose following the declaration that it has initiated the move of implementing the BMRE and Tissue project.

The day's other most gainers are: Atlas Bangladesh, Republic Insurance, Standard Insurance, Bangladesh Steel Re-Rolling Mills, Dhaka Insurance, Zaheen Spinning and Apex Footwear.

Among the major sectors, Cement, Engineering, Fuel & Power and Pharma gained 0.10 per cent, 2.51 per cent, 1.42 per cent and 0.40 per cent respectively.

On the other hand, Mutual Fund and Telecommunication sectors declined 1.16 per cent and 0.94 per cent respectively.

First Bangladesh Fixed Income Fund was the day's worst loser with a fall of 8.06 per cent to close at Tk 5.70.

On the Chittagong Stock Exchange (CSE), the benchmark Index CASPI also rose 80.24 points to close at 13761 points.

Among 222 issues traded, 110 advanced, 64 declined and remaining 48 remained unchanged.

At the end of the day's session, the turnover value stood at Tk 538.89 million on the port city bourse.

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