DSEX rises for second straight day
The total turnover of DSE advanced by 14% and stood at Tk2,681.26 crore compared to Tk2,352.04 crore on Tuesday
Equity indices of the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) rose for the second straight session on Wednesday.
Amid sell pressures for profit booking, DSEX, the benchmark index of the DSE, shot up by 19.6 points or 0.27% than the previous trading session.
The total turnover of DSE advanced by 14% and stood at Tk2,681.26 crore compared to Tk2,352.04 crore on Tuesday.
Keep updated, follow The Business Standard's Google news channel
While the All Share Price Index (CASPI) of the port city bourse CSE rose by 81.1 points to 21540.
On the day's opening, the indices at the Dhaka bourse made a big jump when DSEX reached the historic highest level of 7,407 points.
The benchmark index again came down as selling pressures increased after one hour of trading and the market closed green at last.
Tuesday's volatile trading ended with stock indices closing marginally higher – although the majority of scrips declined.
Heavyweight stocks, such as Beximco, LafargeHolcim, and Orion Pharmaceuticals saved the day with their gains, offsetting the decline in small and mid-cap stocks over the session.
The EBL Securities' daily commentary on the stock market says the market remained volatile amidst profit-booking while benchmark indices ended with marginal gains.
"Participation in the trading floor witnessed increased selling pressures due to portfolio restructuring strategy ahead of upcoming financial disclosures," says the commentary.
On the sectoral front, pharma stocks were the most traded and they contributed 17.03% to the day's total turnover, followed by fuel and power – 15.03% - and engineering – 12.82%.
Most of the sectors observed mixed performance, out of which Services (5.8%), Fuel and Power (3.0%), and Ceramic (2.5%) have exerted the most positive returns.
While jute (-4.6%), financial institution (-3.2%), and life insurance (-2.5%) observed the most corrections on Wednesday.
Out of the 374 issues traded, 112 advanced, 231 declined, and 31 remained unchanged.
Power Grid Company of Bangladesh topped the gainer list with a 9.95% increase followed by Advent Pharma at 9.94% and Paramount Textile at 9.93%.
On the other hand, Shympur Sugar Mills performed the worst, which lost 7.22%, followed by Monospool Paper Manufacturing – 6.87% and Shurwid Industries – 7.96%.
