Stocks edged higher with volatility yesterday, snapping up four-day losing streak.
The market swung between positive and negative significantly with intra-day volatility being more than 43 points, as investors continued to feel uncomfortable over the political unrest, brokers say.
The benchmark index DSEX gained 14 points or 0.4% to 4,797, recovering from previous session’s seven-week low.
The Shariah index DSES inched 1 points or 2% higher to 1,136. The comprising blue chips DS30 closed at 1,778, rising 4 points or 0.3%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, was up 39 points to 8,924.
Investors participation in trading continued to remain dry, as DSE turnover dipped to Tk220 crore, down nearly 21% over the previous session and lowest in the last 15 sessions.
Investors were mostly concentrated on textile sector that rallied over 1.3%, led by new entrant C&A Textiles that climbed 19% in its second trading day. It gained 120% in its debut day.
Non-banking financial institutions posted hefty gains of 2.5%, ending its losing streak over the last several sessions.
Other major sectors, including pharmaceuticals, power and banks moved up marginally. Telecommunication, food & allied and cement ended in red.
The market breadth, however, remained positive, as out of 306 issues traded, 172 advanced, 85 declined and 49 remained unchanged.
Lanka Bangla Securities said buyers gathered some pace on the day, following losses in the last four trading sessions. However, market sentiment remained shaky as investors have not digested the political jolts fully yet, it said.
IDLC Investments said after previous session’s sale off, market took a pause, while majority of the investors preferred staying on the side lines, assessing market sentiment.
The country continued to witness escalation of political violence since January 5 when 20-party alliance called for indefinite blockade demanding fresh national election, wrecking havoc on trades, businesses and life of people.
C&A Textile was also the most traded stocks with shares worth almost Tk12 crore changing hands. It was followed by Lafarge Surma Cement, National Feed Mills, IDLC, Western Marine Shipyard and Grameenphone.