Stocks open week with moderate gains
Turnover at the DSE increased by 63 percent to Tk70 crore on Sunday– from Tk42.9 crore in the previous session
Indices posted moderate gains on Sunday as investors, driven by the fear of Covid-19, took their positions on pharmaceutical stocks.
DSEX, the prime index at the Dhaka Stock Exchange (DSE), gained 8 points, or 0.2 percent, to close the day at 3,962.
The Shariah-based DSES index also inched up 3 points, or 0.3 percent, to settle at 919, while the blue-chip index DS30 went up 6 points, or 0.5 percent, to stand at 1,328.
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Meanwhile, the benchmark index Caspi at the Chittagong Stock Exchange (CSE) gained 23 points, or 0.2 percent, to close at 11,261.
The market appeared healthy in its intraday performance graph on Sunday as it gained points in the early hours of trade. The market witnessed a moderate decline during the mid-session but then again picked up growth and continued to gain points till the end of the session.
According to the Daily Market Review of UCB Capital Management Ltd, "The pharmaceuticals sector posted the highest gains of 0.5 percent on the sector return board – as investors sought opportunities in the sector amid the increasing number of novel coronavirus cases in the country."
On the other hand, the IT sector witnessed the highest price correction of 0.3 percent in the sector return board on Sunday.
Among the large-cap sectors, banking posted gains of 0.1 percent while telecoms lost 0.1 percent, and textiles inched down 0.03 percent.
Turnover at the DSE increased by 63 percent to Tk70 crore on Sunday, from Tk42.9 crore in the previous session.
Turnover at the port city bourse also increased by 113 percent from Tk4.6 crore to Tk9.8 crore.
The pharmaceuticals sector once again contributed the most – 55.2 percent – to the total turnover value. It was followed by telecom stocks adding 13 percent and the fuel and power sector adding 11.4 percent on the sector-wise turnover distribution board.
Square Pharmaceuticals Ltd topped the turnover chart with a turnover value of Tk9.7 crore, closing the day at Tk172.5 per share. The stock was followed by Grameenphone with a turnover value of Tk7.6 crore, closing the day at Tk238.9 per share.
Central Pharmaceuticals Ltd was the best performer on the gainers' table, gaining 9.9 percent and closing at Tk13.3 per share.
Dulamia Cotton Spinning Mills Ltd was the worst loser, shedding 4.6 percent and closing at Tk48.1 per share.
Out of the 293 issues traded on Sunday, only 18 advanced, 19 declined, and 256 remained unchanged on the DSE trading floor.
