Stocks inch up amid increased participation

Stocks extended marginal gains on Thursday amid increase in turnover as investors were mostly active on sector-specific shares.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), advanced 4 points, or 0.1 percent, to close the day at 3,969.

The Shariah-based DSES index also inched up 0.9 points, or 0.1 percent, to settle at 920.

Meanwhile, the blue-chip index DS30 went up 3 points, or 0.2 percent, to stand at 1,330.

Caspi – the benchmark index of the Chittagong Stock Exchange – gained 6 points, or 0.05 percent, to close at 11,262.

The market displayed an overall flat session on the intraday performance graph on Thursday, but it ended the session with a marginal gain of points.

According to the Daily Market Review of EBL Securities Ltd, the market remained flat as lack of participation from the investors kept the turnover low, which is below Tk100 crore.

The floor price system also continued to put dent on the turnover of the market, stated the Daily Market Review of UCB Capital Management Ltd.

"The economy of Bangladesh continued to face the toll of Covid-19, as the number of daily infected cases has been surging," UCB's review added.

The fuel and power sector witnessed the highest price correction of 0.1 percent on the sector return board on Thursday. On the other hand, life insurance stocks posted the highest price appreciation of 0.7 percent.

Among the other large-cap sectors: textiles gained 0.2 percent, banks and pharmaceuticals gained 0.1 percent each, while telecoms and cement remained flat.

Turnover at the DSE increased by 26 percent, to Tk68.4 crore, on Thursday – from Tk54.1 crore in the previous session. Also, turnover at the port city bourse increased by 707 percent from Tk11.6 crore to Tk93.6 crore.

The pharmaceuticals sector, once again, contributed the most, at 36.7 percent, to the total turnover value. It was followed by banking stocks at 24.3 percent and fuel and power stocks at 16.9 percent on the sector-wise turnover distribution board.

Beximco Pharmaceuticals Ltd topped the turnover chart with turnover value of Tk8.3 crore, closing the day at Tk64.8 per share. The stock was followed by Reckitt Benckiser Bangladesh Ltd with a turnover value of Tk2.9 crore, closing the day at Tk3,533.9 per share.

Indo-Bangla Pharmaceuticals Ltd was the best performer on the gainers' table, gaining 2.1 percent and closing at Tk19.9 per share.

Aramit Cement Ltd was the worst loser, shedding 6.4 percent and closing at Tk11.7 per share.

Of the 265 issues traded on Thursday, 29 advanced, 16 declined and 220 remained unchanged on the DSE trading floor.