Stocks rebound on pre-Eid subdued sale pressure

Dhaka,  Sun,  24 September 2017
Published : 24 Aug 2017, 16:31:58
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Stocks rebound on pre-Eid subdued sale pressure

Stocks rebound on pre-Eid subdued sale pressure
FE Online Report
Stocks returned to positive territory on Thursday, after a single-session break, as pre-Eid sale pressure somewhat lessened.

Dealers said the market backed to higher as pre-Eid sale pressure somewhat subdued while some optimistic investors took position on sector-specific issues amid post-Eid optimism.

There are only five trading left before Eid-ul-Azha vacation.

Following the previous day’s marginal correction, the market opened with a positive note which continued till the end of the session with no sign of reversal, finally ended more than 29 points higher.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, settled at 5,885, advancing 29.54 points or 0.50 per cent over the previous session.

The two other indices also edged up. The DS30 index, comprising the blue-chips, advanced 9.04 points or 0.43 per cent to finish at 2,111 points. The DSE Shariah Index (DSES) gained 1.37 points or 0.10 per cent to close at 1,306.

Turnover, another important indicator of the market, stood at Tk 7.82 billion, which was 10.73 per cent lower than the previous day’s turnover of Tk 8.76 billion.

A total number of 0.122 million trades were executed in the day’s trading session with trading volume of 206.08 million securities.

The total market capitalisation of the DSE also rose to Tk 3,970 billion, which was Tk 3,959 billion in the previous session.

Gainers took a modest lead over the losers as 327 issues traded, 155 closed higher, 133 closed lower and 39 remained unchanged on the DSE trading floor.

Bangladesh Building Systems topped the turnover chart with about 8.56 million shares of Tk 466 million changing hands, closely followed by LankaBangla Finance, BBS Cables, ACI and Prime Bank.

Monno Ceramics was the day’s top gainer, posting a 9.93 per cent gain, while Central Insurance was the worst loser, losing by 4.34 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index - CSCX – advancing nearly 51 points to settle at 11,036 points.

Gainers beat losers as 110 issues closed higher, 105 closed lower and 46 remained unchanged on the CSE.

The port city bourse traded 13.32 million shares and mutual fund units’ worth Tk 444 million in turnover.

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