Stocks break losing streak


Stocks returned to the black yesterday, breaking a two-day losing streak, as investors placed buy orders of shares and mutual fund units amid political strife.

DSEX, the benchmark general index of the Dhaka Stock Exchange, went up 30.93 points or 0.65 percent, to close at 4,800.41. DSES, the shariah index of DSE, rose 4.04 points or 0.36 percent, to finish at 1,113.51.

After last session’s downturn, the market regained momentum despite the political stalemate, said IDLC Investments.

However, the enthusiasm was not widely seen among all the market participants as turnover fell 11.3 percent to Tk 249 crore from the previous day, the investment bank said.

A total of 0.75 lakh trades were executed with 7.81 crore shares and mutual fund units changing hands on the Dhaka bourse. Gainers took a strong lead over the losers by 178 to 83, while 51 remained unchanged on the DSE floor.

Of the major sectors, telecoms closed in the red with a 0.51 percent fall in market capitalisation.

The food and allied sector gained 2.39 percent followed by banks 0.71 percent, non-bank financial institutions 0.74 percent, pharma 0.68 percent, cement 0.37 percent and power 0.05 percent.

Aamra Technologies featured in the most traded stocks chart with 30.38 lakh shares worth Tk 13 crore changing hands followed by Beximco, Grameenphone, Ifad Autos and Summit Alliance Port.

Exim Bank First Mutual Fund was the highest gainer of the day, as it posted an 8.19 percent gain, while Imam Button was the worst loser, slumping by 10.27 percent.

Chittagong Stock Exchange gained with its selective categories index, CSCX, rising 54.37 points to close at 8,905.