Stocks step into the week on a high note

Stocks step into the week on a high note

Stocks opened the week higher, supported by cement and other sector-specific stocks. DSEX, the benchmark index of Dhaka Stock Exchange,... 9:36 PM

Stocks opened the week higher, supported by cement and other sector-specific stocks.

DSEX, the benchmark index of Dhaka Stock Exchange, rose 13.7 points or 0.29 percent, finishing the first day of the week at 4,654.74 points.

The market started on a positive note, with expectations of higher scrip prices, said IDLC Investments.

“However, the bourse could not hold on to the pace till the end, as investors were not confident enough about the current price movements to overcome their indecisive mindset,” the merchant bank said.

LankaBangla Securities said the recent strength of the DSE partly reflects bargain hunting after recent weakness, which came amid concerns about the economic outlook.

“However, the upward move on the day was partly offset by the mild pullback seen in the last hour of the session,” the stockbroker added.

Turnover, another important indicator of the market, fell 7.75 percent to Tk 557.62 crore, with 13.44 crore shares and mutual fund units changing hands on the DSE.


 Of traded issues, 178 advanced and 105 declined with 38 securities closing unchanged on the premier bourse.

Quasem Drycells dominated the turnover chart with 25.21 lakh shares worth Tk 25.49 crore changing hands, followed by BSRM Steel, Square Pharma, MI Cement and Delta Life Insurance.

Among the major sectors, non-bank financial institutions gained 0.85 percent in market capitali-sation, followed by cement that increased 0.73 percent and textiles 0.33 percent.

Conversely, the telecom and banking sectors lost 0.84 percent and 0.16 percent respectively.

Hakkani Pulp and Paper was the day's best performer with 9.95 percent in gains, while Quasem Drycells was the worst loser, shedding 7.51 percent.

Chittagong stocks rose with the bourse's benchmark index, CSCX, increasing 12.36 points or 0.14 percent to finish the day at 8,664.09 points.

Gainers beat losers as 140 advanced and 70 declined, while 37 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 1.07 crore shares and mutual fund units worth Tk 39.17 crore in turnover.
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