Stocks rise for second day

Both Dhaka and Chittagong stock exchanges rose for the second consecutive day yesterday although turnover remained low amid lower participation of investors who grow concerned about persisting economic uncertainty at home and abroad.   

Investors are particularly worried as higher inflation, volatility in the foreign exchange market, the energy crisis, and the Russia-Ukraine war show no sign of ending soon.   

Still, the DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), edged up 16 points, or 0.25 per cent, at 6,344.

The DS30, the index that consists of blue-chip companies, went up 0.24 per cent to 2,249, while the DSES, the Shariah-complaint index, added 0.19 per cent to 1,393.

On the DSE, 71 securities advanced, 46 declined, and 237 remained unchanged.

Turnover, one of the important indicators of the market, rose around 19 per cent to Tk 741 crore, which is lower than last week's daily average of Tk 1,160 crore.

eGeneration Ltd topped the gainers' list, advancing 9.94 per cent. Navana Pharmaceuticals rose 9.92 per cent.

Sea Pearl Beach Resort and Spa, Paper Processing & Packaging, and Bangladesh Monospool Paper Manufacturing, and Gemini Sea Food gained more than 8 per cent.

Tamijuddin Textile Mills, Monno Agro & General Machinery, Bangladesh Industrial Finance Company, Genex Infosys, and Eastern Housing were also among the major gainers on the day.

Rangpur Foundry suffered the highest correction, sliding almost 5 per cent. Sonali Paper & Board Mills, Yeakin Polymer, Bangladesh Building Systems, BDCOM Online, Hakkani Pulp & Paper Mills, Bangladesh Welding Electrodes, and JMI Syringes & Medical Devices were among the major losers.

Bangladesh Export Import Company was the most-traded stock on the Dhaka bourse, with its shares worth Tk 72 crore changing hands.

Orion Pharma, Sea Pearl Beach Resort, Anwar Galvanizing, and Eastern Housing also witnessed significant turnover.

The Caspi, the all-share price index of the Chittagong Stock Exchange, increased 24 points, or 0.12 per cent to close the day at 18,677.

Of the issues that traded on the bourse in the port city, 48 advanced, 43 declined, and 110 did not show any price movement.

Turnover fell to Tk 19.65 crore from Tk 20.67 crore a day earlier.