Stocks rebound after three-day fall

Shares of both stock markets in Bangladesh rebounded yesterday after a three-day losing streak.

The DSEX, the broad index of Dhaka Stock Exchange (DSE), rose over 10 points, or 0.21 percent, from that on the day before to hit 5,280 by the end of the trading session yesterday.

The DSES, the Shariah-based stock index, also grew 0.21 percent to 1,153 while the DS30, the blue-chip share index, went up 0.23 percent to 1,886.

Chittagong Stock Exchange saw a rising trend as the Caspi, the main index of the premier bourse of the port city, went up by over 48 points, or 0.32 percent, to close at 15,093.

The DSEX, the broad index of Dhaka Stock Exchange, rose over 10 points or 0.21 percent to end the day at 5,280

The day's turnover at the DSE, meaning the total value of shares traded in the market, increased 8.76 percent to Tk 470 crore.

Block trade, meaning high-volume securities transactions privately negotiated and executed outside of the open market, accounted for 6.1 percent of the overall market turnover.

Techno Drugs became the most traded share with a turnover of Tk 23.5 crore.

Sector-wise, engineering, cement and telecom were the top three to close in the positive while ceramics, jute and travel and leisure were the top three to close in the negative.

The pharmaceuticals sector dominated the turnover chart, accounting for 22.65 percent of the day's total.

Of the 397 issues that changed hands on the DSE, 171 advanced, 163 declined and 63 did not witness any price movement.

Most of the sectors that account for large amounts in market capitalisation, which refers to the total value of a company's outstanding shares of stock, posted a positive performance.

The engineering sector booked the highest gain of 1.13 percent, followed by telecommunication (0.82 percent), food and allied (0.45 percent), fuel and power (0.40 percent), pharmaceuticals (0.36 percent), banking (0.03 percent) and non-bank financial institutions (0.38 percent).

Shares of the large-cap and blue-chip stocks performed well in propelling the index, according to the website of LankaBangla Financial.

They include Heidelberg Materials Bangladesh, Marico Bangladesh, National Bank, Pubali Bank, Alif Industries, Grameenphone, British American Tobacco Bangladesh, Kohinoor Chemical Company (Bangladesh), Robi Axiata, and Taufika Foods and Lovello Ice-cream.

Of them, Heidelberg Materials Bangladesh and Marica Bangladesh topped the chart by jointly enabling a rise of about three percent.

Meanwhile, Khan Brothers PP Woven Bag Industries, Beacon Pharmaceuticals, Beximco Pharmaceuticals, Sea Pearl Beach Resort & Spa, Prime Bank, IFIC Bank, BRAC Bank, Southeast Bank and Premier Bank performed poorly.

Of them, Khan Brothers PP Woven Bag Industries and Beacon Pharmaceuticals jointly caused the loss of over two percent.