Stocks post marginal gains after single day correction
Higher remittance earnings and foreign currency reserves have kept investors optimistic about the market
Indices of the capital bourse posted marginal gains on Tuesday as enthusiastic investors displayed a buying appetite in listed stocks with return potential; amid growing confidence in the market on regulatory moves to restore market discipline.
DSEX, the benchmark index of the Dhaka Stock Exchange, went up by 19.13 points, or 0.40 percent, to settle at 4,781.
However, the port city's bourse, the Chittagong Stock Exchange registered a flat session at the end. The selected index, CSCX gained 58 points and CASPI advanced by 40 points.
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According to EBL securities review, higher remittance earnings and foreign currency reserves kept investors optimistic about the market as the country's economy has shown signs of recovery; particularly in global trade activities in July 2020.
The investors remained cheerful throughout the session. Consequently, turnover on the Dhaka Stock Exchange trading floor increased by 7.8 percent to Tk786 crore.
Abu Hena Md Rahmatul Muneem, chairman of National Board of Revenue, said at a programme that was conducted in his office on Tuesday, "Turnover on the capital market has increased due to the opportunity to invest black money without question. However, the amount of money invested will be understood by looking at the return at the end of this fiscal year."
Investors' attention was mostly concentrated on pharmaceutical stocks and the sector witnessed the highest turnover with 0.40 percent gain of its market capitalisation on Tuesday. The second highest turnover was in the miscellaneous sector which posted positive returns of 1.2 percent.
Beximco was the most traded stock with a turnover value of Tk64.1 crore on Tuesday. The stock was followed by Beximco Pharma, Grameenphone, Orion Pharma, Lafarge Holcim, and Square Pharma on the list of most traded stocks.
The telecoms sector gained a massive 4.3 percent with Grameenphone rising strongly.
The general insurance sector witnessed a 1.6 percent decline in market capitalisation. The sector was followed by non-banking financial institutions and service sectors.
Out of 357 issues traded at the DSE, 137 advanced, 172 declined and 48 remained unchanged.
At the CSE, 111 advanced, 111 declined and 46 issues were unchanged. The turnover at the port city bourse was Tk24.77 crore.
