August 10, 2022, 4:27 am

Abu Taher Bappa

2020-09-29 07:35:58 BdST

DSE, CSE rebound after single-day break

Stocks rebounded in the upbeat note on Monday, after a single-day break, as optimistic investors showed their appetite on selective issues amid high expectations.

The market opened on an upbeat note and the key index soared 58 points within the first hour of trading. But, late hours profit booking sell-offs eroded some initial gains.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 32 points or 0.64 per cent to settle at 5,003.

Market operators said the investors went on buying binge on major sectors stocks riding on the news of interest rate cut on stock investment funds.

Bangladesh Bank Thursday reduced the interest rate on borrowing from its special investment fund to 4.75 percent from 5.0 percent, aimed at helping the country’s lenders increase their stock investment capacity.

Two other indices also ended higher. The DS30 index, comprising blue chips, gained 21.82 points to finish at 1,712 and the DSE Shariah Index rose 9.46 points to close at 1,131.

Turnover, a crucial indicator of the market, however, fell to Tk 8.79 billion, which was 15 per cent lower than the previous session’s Tk 10.34 billion.

Gainers outnumbered the losers as out of 356 issues traded, 154 closed lower, 151 ended higher while 51 issues remained unchanged on the DSE trading floor.

A total number of 178,818 trades were executed in the day’s trading session with a trading volume of 353.95 million shares and mutual fund units.

The market-cap on the premier bourse jumped to Tk 3,978 billion on Monday, from Tk 3,952 billion in the previous session.

Beximco Pharma topped the turnover list with shares worth nearly Tk 511 million changing hands, closely followed by Beximco, City Bank, Brac Bank and Asia Pacific Insurance.

Anwar Galvanizing was the best performer, posting a gain of 10 per cent while United Insurance was the worst loser, losing 8.67 per cent.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—soaring 112 points to close at 14,299 while the Selective Categories Index – CSCX rising 75 points to close at 8,582.

Of the issues traded, 133 advanced, 104 declined and 42 remained unchanged on the CSE.

The port city bourse traded 12.62 million shares and mutual fund units with turnover value of Tk 201 million.

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