Stocks witnessed moderate recovery yesterday amid continued low turnover, after steep losses recorded in three consecutive sessions.
The market opened higher with slow trading and the momentum continued till close of the session, as limited number of investors participated in the trading.
The benchmark DSEX gained over 35 points or 0.7% to close at 4,804, rebounding from its two-month low in the previous session.
The Shariah index DSES rose 9 points or 1% to 1,119. The comprising blue chips DS30 ended at 1,771, rising 18 points or 1%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, was up 27 points to end at 9,036.
Trading activities remained dull as turnover at DSE stood at Tk347 crore, slightly lower over previous session’s value of Tk350 crore.
After witnessing no buyer for the fourth straight session due to regulatory action, Shahjibazar Power Company Ltd (SPCL) found no sellers.
Its share prices rose 8.29% in the spot market instead of main market as the securities regulator imposed some restrictions on its trading due to its unusual behaviour since its debut trading four months back.
Losers took lead strongly, as out of 298 issues traded, 168 advanced, 93 declined and 93 remained unchanged.
Cement posted the highest return of 4.5%. Most of the major sectors ended flat while fuel and power, pharmaceuticals and engineering closed negative.
IDLC Investments said despite squeezed trading volume, market took an upward move. However, over the last ten sessions market shredded a total of 130 points.
Since, investors remained active only on selected scrips, the day’s turnover was 45% lower than the average turnover of November.
Western Marine Shipyard topped turnover leader list with shares worth Tk22 crore changing hands, followed by Beximco Pharma, Beximco Ltd, Lafarge Surma Cement, Jamuna Oil, Khan Brothers PP Woven and Grameenphone.
Standard Ceramic was the worst loser, dropping 9.8% while GSP Finance was the biggest gainer with a rise of 9.5%.
Other top losers include Savar Refractories, JMI Syringe, Hakkani Pulp and Paper, Aramit Cement and Sonali Ansh.
After GSP, Reliance Insurance, SPCL, Khan Brothers PP Woven, Saife Power tech and FAS Finance were the other biggest gainers of the day.
