Stocks posted a marginal gain on Tuesday after choppy trading as investors put bets on sector specific issues despite fears over the fast spreading Omicron variant.
The market moved between positive and negative several times before closing marginally higher amid lack of clear direction of the market.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 10.69 points or 0.15 per cent to settle at 6,892. The core index added around 162 points in the past four straight sessions.
Turnover, a crucial indicator of the market, stood at Tk 11.82 billion on the country's premier bourse, falling by 10 per cent over the previous day's one month highest turnover of Tk 13.14 billion.
Market analysts said the buoyant investors showed their buying interest on sector-wise stocks while cautious investors opted for booking profit on sector specific issues despite fears over spread of the Omicron variant.
Favourable macroeconomic indicators prompted some investors to take positions on pharma, telecom and life insurance stocks, taking the key index marginally higher, according to a stockbroker.
Proactive regulatory initiatives and expectations of positive market momentum are driving investors' buying spree, commented EBL Securities.
However, the recent increase in the Covid-19 positive rate may raise investors' concerns about the market's performance in days to come.
The investors' enthusiasm in life insurance, cement and IT sectors' stock helped the key index to remain in green, according to International Leasing Securities.
However, the market faced some profit booking on sector specific stocks, particularly in food, textile, banking and travel sectors, said the stockbroker.
Meanwhile, the government is going to impose some restrictions, including limiting the number of passengers on public transport, reduction of trading hours at shops and shopping malls to curb the spread of Omicron.
The DSE Shariah Index also advanced 4.73 points to close at 1,456. However, the DS30 index, comprising blue chips, shed 4.92 points to finish at 2,571.
Major sectors showed mixed performances. Food, textile and banking sectors lost 0.60 per cent, 0.40 per cent and 0.20 per cent respectively.
On the other hand, pharma sector posted the highest gain of 0.80 per cent, telecom 0.40 per cent and financial institutions 0.10 per cent. The life insurance sector jumped 3.50 per cent riding on Fareast Life Insurance which jumped 10 per cent alone.
Losers took modest lead gainers as out of 378 issues traded, 180 declined, 167 advanced and 31 remained unchanged on the DSE trading floor.
A total number of 193,225 trades were executed in the day's trading session with a trading volume of 255.06 million shares and mutual fund units.
Fareast Life Insurance was the day's best performer, posting a gain of 10 per cent, while ICB Third NRB Mutual Fund was the worst loser, losing 5.40 per cent.
The Chittagong Stock Exchange (CSE) ended slightly lower with its All Shares Price Index (CASPI)-losing 2.56 points to close at 20,154 while the Selective Categories Index - CSCX-- shedding 0.94 points to close at 12,104.
Of the issues traded, 130 advanced, 128 declined and 34 remained unchanged on the CSE.
The port-city bourse traded 10.74 million shares and mutual fund units with turnover value of more than Tk 357 million.
© 2024 - All Rights with The Financial Express
