Dhaka stocks ended marginally higher Monday, extending the gaining streak for the four straight session, as investors followed cautious stance ahead of the coordination meeting.
The finance ministry has arranged a coordination meeting with the central bank and the stock market regulator today (Tuesday) to find out a way-out to resolve the issues of the capital market.
The market moved between positive and negative territory several times before ending marginally higher as investors opted for booking profit on quick-gaining stocks in early trading.
DSEX, the prime index of Dhaka Stock Exchange, went up 12.90 points or 0.18 per cent to settle at 6,978. The core index added 275 points in the past four consecutive sessions.
The DSE 30 Index, comprising blue chips, however, dropped 3.62 points to finish at 2,634. The DSE Shariah Index (DSES) advanced 3.60 points to close at 1,464.
Meanwhile, the newly-listed Sena Kalyan Insurance is witnessing an unprecedented price hike and increase in volume of shares despite no undisclosed price sensitive information (PSI).
Within a month, the general insurer's share price jumped 692 per cent or Tk 69.20 each to close at Tk 79.20 on Monday, from its issue price of Tk 10 per share.
Sena Kalyan Insurance, a concern of Sena Kalyan Sangstha (SKS) of Bangladesh Armed Forces, made its shares trading debut on November 7.
Following the 'abnormal' price hike, the DSE served show-cause notice on the company on Monday. The company has informed the DSE that there is no undisclosed price sensitive information.
Even after being served show-cause notice, the company's share price has not stopped rising and jumped 10 per cent further on Monday, becoming the day's top gainer.
Turnover, a crucial indicator of the market, stood at Tk 8.87 billion, which was 0.89 per cent lower than the previous day's tally of Tk 8.94 billion.
Investors were active on both sides of the trading fence, as risk-averse investors chose to book profits on rising equities, while others continued to take positions in sector-specific stocks, according to EBL Securities.
Major sectors showed mixed performances. Textile, food, cement and power sectors posted gains of 2.50 per cent, 1.20 per cent, 0.40 per cent and 0.10 per cent respectively.
On the other hand, telecom, miscellaneous and financial institutions lost 0.50 per cent, 0.48 per cent and 0.20 per cent respectively.
Gainers took a strong lead over the losers, as out of 371 issues traded, 218 advanced, 118 declined and 35 remained unchanged on the DSE trading floor.
The investors' activity was mostly centered on banking sector, grabbing 17 per cent of the day's total turnover, followed by pharma with 12 per cent and textile 13 per cent.
Beximco was the most traded stock with shares worth Tk 798 million changing hands, followed by Genex Infosys (Tk 316 million), First Security Islami Bank (Tk 299 million), Sena Kalyan Insurance (Tk 279 million) and ONE Bank (Tk 277 million).
Sena Kalyan Insurance was the day's highest gainer, soaring 10 per cent while Northern Islami Insurance was the day's worst loser, losing 4.34 per cent.
However, the Chittagong Stock Exchange (CSE) edged lower with the CSE All Share Price Index - CASPI -losing 13.19 points to settle at 20,402 and the Selective Categories Index - CSCX-- losing 10.71 points to close at 12,264.
Of the issues traded, 148 advanced, 93 declined and 29 remained unchanged on the CSE.
The port-city bourse traded 11.83 million shares and mutual fund units with a turnover value of Tk 352 million.
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