Stocks bounce back

Bangladesh Securities and Exchange Commission is trying to increase the fund flow to the capital market and taking initiatives accordingly, as per a market review.

The Dhaka stock index rose yesterday on falling the day before while turnover crossed the Tk 900 crore mark after four days thanks to the regulator announcing plans to sit with stakeholders to give a boost to the market.

The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), rose 16 points, or 0.24 per cent, to 6,758.

At the DSE, 176 stocks advanced, 153 declined and 50 remained the same.

Turnover, an important indicator of the market, increased 7 per cent to Tk 924 crore from that the day before.

Beximco became the stock to be traded the most, with shares worth Tk 48 crore changing hands, followed by LafargeHolcim Bangladesh (Tk 46 crore), Fortune Shoes (Tk 39 crore), Genex Infosys (Tk 38 crore) and BDCOM Online (Tk 34 crore).

Stocks ended higher as investors are putting in fresh funds to sector-specific issues expecting positive interventions from tomorrow's coordination meeting between the securities regulator and market intermediaries, said International Leasing Securities in its daily market review.

The Bangladesh Securities and Exchange Commission (BSEC) is trying to increase the fund flow to the capital market and taking initiatives accordingly, it said.

At the end of the day, the DS30, the blue-chip index, and DSES, the Shariah based index, gained 5.15 points and 7.39 points respectively.

Among the sectors, cement rose 4.9 per cent, tannery 3 per cent and IT 2 per cent whereas financial institutions witnessed the highest price correction, falling 1.1 per cent.

Investors' attention was mainly concentrated on engineering which accounted for 12.6 per cent of the turnover followed by IT (12.1 per cent) and pharmaceuticals and chemicals (11.2 per cent).

Bangladesh Lamps topped the gainers' list, rising 8.74 per cent, followed by Paper Processing and Packaging (8.7 per cent), Bangladesh National Insurance Company (8.6 per cent), Bangladesh Monospool Paper Manufacturing Company (8.2 per cent) and LafargeHolcim Bangladesh (7.12 per cent).

Khulna Power Company shed the most, dropping 2 per cent, followed by Pragati Life Insurance, Khulna Printing and Packaging, Atlas Bangladesh and Imam Button Industries.

Chittagong Stock Exchange (CSE) also rose yesterday. The Caspi, the main index of the bourse of the port city, edged up 18 points, or 0.09 per cent, to 19,789.

Among the 295 companies to witness trade, 110 rose, 140 fell and 45 remained unchanged.