Stocks gained marginally in volatile trade yesterday, led by the rally of cement, power and pharmaceuticals issues.
The market was in the positive territory in most of the session with lackluster trading as investors were vigilant about the monetary policy stance unveiled on the day. But last minute buying has sent the market to the positive territory.
The benchmark of the Dhaka Stock Exchange, DSEX, gained 14 points or 0.4% to close at 4,792 after marginal fall in the previous session.
The Shariah index, DSES, edged over 5 points or 0.5% higher to 1,189. The blue chip comprising index DS30 was up 14 points or 0.8% to 1,883. The Chittagong Stock Exchange Selective Category Index, CSCX, surged over 38 points to settle at 8,959.
Among the positive performing sectors, cement gained the highest 2.9% followed by engineering 1.9%, power almost 1% and pharmaceuticals 0.8%.
Non-banking financial institutions advanced marginally while banks, telecommunication, food and allied declined.
The turnover at DSE was relatively stable as it stood at Tk630 crore, which was only 0.1% lower than the previous session’s value.
Lanka Bangla Securities said the market continued to move sideways amid no direct implication of monetary policy statement to the stock market.
“The statement included some subtle changes with no cut on repo rate directing towards no change in near-term interest rate. After seeing a subdued trade in morning session and mixed performance in earnings news, stocks continued to perform well following the announced of accommodative stance from the Bangladesh Bank.”
IDLC Investments said having volatile movements throughout the session, the bourse ended flat by the day-end. It said besides, half-yearly earning declarations were mixed and investors were seemed demonstrating minimal reaction to favorable earnings as they were waiting for a confirmation of upbeat reversal.
Accordingly, the search for lucrative and short-term spread put investors in a cautious floor of trading, keeping the market turnover almost flat, it said.
