Stocks rebound ahead of Eid vacation

Dhaka,  Sun,  24 September 2017
Published : 19 Jun 2017, 16:04:20

Stocks rebound as pre-Eid sale pressure subdued

Stocks rebound ahead of Eid vacation
FE Online Report
Stocks returned to higher Monday after a single-session break as pre-Eid sale pressure somewhat subdued. Only three trading sessions are left before Eid vacation.

Insiders said the market finished marginally higher as pre-Eid sale pressure faded away, while recent corrections encouraged some investors to take fresh position on some large-cap stocks.

The market started with a negative note and the downturn sustain till first half of the session, but last half went up sharply, finally ended more than 17 points higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,479, advancing 17.18 points or 0.31 per cent over the previous day.

The two other indices also finished marginally higher. The DS30 index, comprising blue chips advanced 1.86 points or 0.09 per cent to finish at 2033. The DSE Shariah Index (DSES) rose 1.69 points or 0.13 per cent to close at 1,262.

Turnover, another important indicator of the market, also rose to Tk 5.41 billion, which was 14 per cent higher than the previous day’s Tk 4.73 billion.

Gainers took a strong lead over the losers, as prices of 183 securities advanced, 91 declined and 54 remained unchanged out of the 328 issues that were traded on the DSE floor.

Regent Textile topped the DSE turnover chart with about 7.05 million shares worth Tk 202 million changing hands, followed by Nurani Dyeing, Orion Pharma, Paramount Textile and Argon Denims.

Asia Pacific Isnuarnec was the day’s highest gainer, posting 7.17 per cent gain, while Shympur Sugar Mills was the worst loser, losing 6.67 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index - CSCX –advancing 32 points to settle at 10,269.

Gainers beat losers as 130 issues closed higher, 69 closed lower and 38 remained unchanged on the CSE.

The port city bourse traded 11.50 million shares and mutual fund units’ worth Tk 514 million in turnover.
Editor : A.H.M Moazzem Hossain
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