Stocks break losing streak

Most shares on the Dhaka and Chattogram stock exchanges rose yesterday, helping the bourses snap the two-day falling trend, thanks to the enthusiastic participation of investors. 

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 9 points, or 0.14 per cent, to close at 6,537.

The DS30, the index that consists of blue-chip companies, however, slipped 0.13 per cent to 2,353, while the DSES, the shariah-based index, was down 0.17 per cent at 1,426.

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Turnover rose 8.8 per cent to Tk 1,480 crore. Of the securities, 129 won, 108 retreated, and 140 did not find any buyer.

Shares on the DSE returned to the black after experiencing sales pressure for two days amidst enthusiastic participation from investors on sector-specific stocks, said International Leasing Securities Ltd, a brokerage house, in its daily market review. 

"Bargain hunters revealed their buying interest from the opening of the session that continued till the closure except for some sale pressures in the last hour of the session."

Gainers took a modest lead over losers as out of 377 issues traded, 129 advanced, 108 declined, and 140 remained unchanged.

Among the sectors, jute rose 7.4 per cent, ceramic was up 2 per cent, and IT appreciated 1.9 per cent.

On the contrary, the service sector was down 1.9 per cent, cement declined 0.6 per cent, and pharmaceuticals suffered a 0.5 per cent correction.

The investors' activity was mostly centred on pharmaceuticals, representing 20.2 per cent of the day's turnover. The engineering sector accounted for 10.4 per cent of the turnover.

Bangladesh Export Import Company was the most-traded issue on the day, making up 12 per cent of the turnover as its scrips worth Tk 162 crore changing hands.

Orion Pharma, Bangladesh Shipping Corporation, IPDC Finance, Shinepukur Ceramics, LafargeHolcim Bangladesh, and Premier Leasing & Finance were also among the stocks that saw significant gains.

Jute Spinners was the most successful stock, rising 9.98 per cent.

Sonargaon Textiles and Union Capital climbed more than 9 per cent, while Bangladesh Lamps, Metro Spinning, and Bangladesh Welding Electrodes advanced more than 8 per cent.

Sonali Aansh Industries, IPDC Finance, JMI Syringes & Medical Devices, and Rangpur Dairy & Food Products gained 7 per cent or more.

Nahee Aluminum Composite Panel suffered the highest correction, giving up 6.29 per cent. ACI Formulations was down 4.74 per cent.

Similarly, Eastern Housing, Beacon Pharmaceuticals, FAS Finance & Investment, and International Leasing & Financial Services, dipped more than 3 per cent. Uttara Finance & Investments, Prime Islami Life Insurance, and Premier Leasing & Finance were among the major losers.

The Caspi, the all-share index of the Chattogram Stock Exchange, rose 34 points, or 0.18 per cent, to end at 19,232.

Of the issues that traded, 111 advanced, 85 declined, and 92 did not show any price movement. Turnover jumped nearly 30 per cent to Tk 35 crore.