Stocks break nine-day losing jinx

FE Report | Published: July 15, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

The stocks market returned to the green Monday, breaking a nine-session losing streak as continuous wane created some stimulus of undervaluation, luring some witty participants to take position.
Brokers said that indices lost substantially in last nine trading days, a good number of issues came at lucrative range and backed by this, investors took position in selective preferred stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSEX) went up by 32.53 points or 0.74 per cent to close at 4,376.89 points, after shedding 143 points in the last nine consecutive trading sessions.
The other two indices also closed in positive zone. The DS30, comprising blue chips gained 11.21 points or 0.70 per cent to close at 1,606.48 points. The DSES gained 7.85 points or 0.79 per cent to close at 998.12 points.
The total turnover improved slightly and amounted to Tk 1.86 billion, registering an increase of 24.10 per cent over the previous session's 9-month lowest value of Tk 1.50 billion.
"Market came back into positivity with investors' concentration in lucrative issues," commented IDLC Investments, in its regular market analysis.
Last few sessions' continuous wane created some stimulus of undervaluation, luring some witty participants to take position and create a natural re-bounce, said the merchant bank.
Monetary policy statement (MPS) and half-yearly and yearly earnings centric expectation remained persistent. As a result, the bourse edged green, said the merchant bank.
In spite of increased turnover, sluggishness in activity still prevailed as investors were observing surrounding macroeconomic phenomenon. They were seemed to be more cautious ahead of Eid-ul-Fitr, the merchant bank added.
The market marked a positive session after a combined loss of 143 points in the last 9-session. "This huge consecutive loss in the indices brought many issues at the lucrative level and therefore induced the investors to participate in the buying side," said the International Leasing Securities.
The news that Bangladesh Bank would take measures to increase credit flow and encourage local and foreign investors might influence the market positively in future, the International Leasing added.
LankaBangla Securities said: "Investors showed up with strong position from the beginning of the trading session mostly in pharmaceuticals, engineering and fuel stocks".