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Dhaka Tribune

Stocks inch higher amid continued volatility

Update : 26 Nov 2015, 06:57 PM

Stocks gained marginally up with falling volume of trade yesterday, breaking a three-day loss.

The market was in the positive territory throughout the session, but briefly it entered into the red just before closing the session.  

The benchmark index DSEX inched over 5 points or 0.2% to 4,573.

The Shariah index DSES rose marginally 2 points to 1,101.

The blue chip comprising index DS30 closed at 1,729, gaining over 1 point.

The Chittagong Stock Exchange Selective Category Index CSCX was up almost 16 points to settle at 8,507.

But the bottom line was that the volume of trade continued to slide and remained poor, indicating that investors preferred to stay on the sidelines amid high volatility seen over the past few sessions.

The DSE turnover stood at around Tk350 crore, down more than 10% over the previous session’s value.

Non-banking financial institutions suffered most, declining more than 1%.

Almost all other sectors, including power, cement, telecommunications, pharmaceuticals and banks, ended flat.

Lanka Bangla Securities said the market got off to an uncertain start in the last trading session of the week.

It said the benchmark index crept up with a low-volume trade, although selective defensive and real state stocks recouped some of their losses.

“Investor turned their attention to the industry specific news to get the direction of the market.”

On the major economic updates, even though the government cut the interest rate for national savings certificates to curb excess investment in tools, investors continued to invest heavily in the instruments amid a dull business situation in the country.

IDLC Investments said the bourse lost its upbeat rhythm as no significant change was observed in the investors’ mindset, looking for a safe harbour. 

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