Stocks gained yesterday with increased participation, after profit-booking losses in the previous two sessions.
The benchmark DSEX rose 22 points or 0.5% to 4,576, lifted by mainly two heavyweights – Grameenphone (GP) and Square Pharmaceuticals – that rallied 0.8% and 1.9% respectively.
The Shariah index rose 7 points or 0.8% to 1,070. The comprising blue chips DS30 closed at 1,733 with a rise of over 21 points or 1%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, was up by 40 points to 8,581.
Turnover improved by more than 20% over the previous session and stood at Tk742 crore. However, market breadth remained negative as out of 301 issues traded, 108 advanced, 171 declined and 22 remained unchanged.
Among the major sectors, cement, engineering, telecommunication and pharmaceuticals gained 3%, 1.4%, 1.3% and 1.2% respectively.
Textile sector was the worst sufferer shedding 1.6%, snapping its rally over the few sessions.
The financial sectors – non-banking financial institutions and banks – went down by 0.8% and 0.2% respectively. Food and allied lost 0.6%.
Khulna Paper and Packaging Ltd, in its second trading day, lost 1.9% to Tk36.4 a share. It rose 271% on its offer value in its debut day.
IDLC Investments said spurred buy last session’s cautious stance, investors moved ahead today with strong focus on June year-end companies.
It said in anticipation of better corporate declarations, investors re-balanced their positions amid stable macro-economic scenario.
“Market participants’ confidence is getting stronger and subsequently influencing investors return to market from side-line.”
Lanka Bangla Securities said after showing a strong move to the upside in early trading session, market has moved roughly sideways throughout the day hovering around the best level of the day at 4,576 points.
MJL Bangladesh Ltd has remained the most traded stock of the day with Tk52.8 crore worth of turnover.
It was followed by Beximco Ltd, ACI Ltd, Lafarge Surma Cement, GP, BSRM Steel, Square Pharmaceuticals and Appollo Ispat.