Stocks see moderate gains
Dhaka Stock Exchange’s benchmark index increased by 10.61 points or 0.21% to reach 4,959 at the end of Monday’s trading session
Indices of the country's both stock exchanges witnessed moderate gains on Monday amid sale pressure as risk-averse investors sold shares for some quick gains.
DSEX, the prime index of Dhaka Stock Exchange (DSE), increased by 10.61 points or 0.21% to reach 4,959 at the end of the day's trading session, while 51% listed companies' share prices decreased due to sale pressure.
However, the price of most of the Category Z companies' shares increased at DSE as the securities regulator had reduced trading settlement time from seven days to three days.
Turnover on the DSE trading floor decreased by 5% to Tk976.12 crore.
The port city's bourse, Chittagong Stock Exchange, registered a mere flat session at the end of the day. The selected index, CSCX, increased by 31 points while CASPI rose by 52 points.
A senior officer of a brokerage firm said indices of both the stock exchanges extended their rise for the fourth session straight.
On Monday, the trading session began with optimism, but it fell sharply in the mid-day session.
"After that, some investors continued their buying appetite on selective stocks. That is why indices saw a moderate gain at the last session of the day," the brokerage firm officer added.
Investors' attention was mostly concentrated on pharmaceuticals that witnessed the highest turnover on Monday.
The second highest turnover was in the engineering sector which posted a positive return of 0.5%.
Beximco Pharma and Beximco Limited secured spots on Monday's turnover leaders, with the latter continuing its promising growth.
The two companies jointly hold 12.42% of the total DSE turnover.
The jute sector gained a massive 2.1%.
On the top ten gainer chart, GPH Ispat secured first position with 10% gain. Its share price soared over the last couple of days following an announcement that the company had started production at its new plant.
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The company has built the new plant by investing Tk2,500 crore.
The ceramic sector witnessed 0.8 percent fall in market capitalisation.
