Stocks posted a marginal gain on Wednesday, snapping a two-day losing streak, as investors traded cautiously amid lack of clear market direction.
The market started with an upward trend and the key index rose about 40 points within the first two hours of trading. But most of the initial gain eroded amid profit booking on bank, food and telecom stocks.
Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 6.92 points or 0.09 per cent to settle at 7,043, after losing 53 points in the past two consecutive sessions.
Market analysts said the optimistic investors showed buying interest on some large-cap stocks while cautious investors sold sector-wise issues, taking the market index almost flat.
Price surge of Beximco and Beximco Pharmaceuticals helped the market index close into the green, according to a leading broker.
Beximco share price jumped 3.79 per cent to close at Tk 150.80 each on Wednesday, adding about 41 points to the DSEX.
Beximco Pharma's share also soared 1.60 per cent to close at Tk 196.40 on Wednesday, adding about 12 points to the prime index.
Top positive index contributors were Beximco, Beximco Pharma, Investment Corporation of Bangladesh, United Power and Fortune Shoes, according to amarstock.com.
The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index - CASPI -gaining 31 points to settle at 20,634 and the Selective Categories Index - CSCX-rising 16 points to close at 12,386.
© 2024 - All Rights with The Financial Express
