Stocks recover from single-day knock

The domestic market yesterday put a stop to its falling trend from the previous day thanks to increased investor participation.

"Many investors are rearranging their portfolios based on the corporate earnings reports recently published by most listed companies for the July-September period," a stock broker said.

"So, they bought and sold many shares at the same time, which is a good sign for the market," he added.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 11 points, or 0.12 per cent, to hit 6,941 yesterday after dropping 65 points a day earlier.

Similarly, turnover of the Dhaka bourse rose 28 per cent to Tk 1,421 crore, up from Tk 1,111 crore the day before amid the rising trend of the index.

At the country's premier bourse, 115 stocks rose, 227 fell and 31 remained unchanged.

Among major sectors, the bank, non-bank financial institution, and food and allied sectors experienced price appreciation while ceramics, service, real estate, and cement faced correction.

Square Textiles topped the gainers' list, rising 10 per cent, followed by Acme Pesticides, Brac Bank, Sena Kalyan Insurance, and Salvo Chemicals.

National Feed Mills shed the most, dropping 9.91 per cent, followed by Saiham Cotton, Bangladesh Thai Aluminium, Fu-Wang Foods, and Alif Industries.

Stocks of Beximco Limited traded the most, worth Tk 194 crore, followed by Brac Bank, IFIC Bank, Orion Pharmaceuticals and Genex Infosys.

Brac Bank made the greatest contribution to the DSE's benchmark index, accounting for 9 points on the day, according to amarstock.com, a stock market related data provider.

Meanwhile, Brac Bank, British American Tobacco Bangladesh, Square Pharmaceuticals, the Investment Corporation of Bangladesh and Dutch-Bangla Bank collectively added 30 points to the index, the data shows.

The Chittagong Stock Exchange (CSE) also rose yesterday as the CASPI, the main index of the port city bourse, rose 29 points, or 0.14 per cent, to 20,323.

Among the 282 traded companies, 104 advanced, 164 fell and 14 remained unchanged.