Business

Stocks bounce back after five-day losing streak

The indexes of the Dhaka Stock Exchange (DSE) rose today, snapping a five-day losing streak on the back of the good performance of shares in the blue-chip and large-cap sectors.

Shares of Islami Bank Bangladesh, BRAC Bank, Heidelberg Materials Bangladesh PLC, Bangladesh Steel Re-rolling Mills, Orion Pharma, BAT Bangladesh, Square Pharmaceuticals, MJL Bangladesh, Premier Cement Mills, and Saif Powertec Limited drew the most investors, according to the daily market update by LankaBangla Financial Portal.

However, none of these companies saw double-digit growth in share prices.

The highest growth was logged in the share prices of Islami Bank Bangladesh and BRAC Bank, rising by over four percent each.

Meanwhile, the share prices of Grameenphone, IFIC Bank, Prime Bank, National Bank, JHR Hospital Requisite Manufacturing Limited, Beximco Pharmaceuticals, Al-Arafah Islam Bank, Unique Hotel & Resorts PLC, BBS Cables and Robi Axiata Limited fell.

The DSEX went up by 12.38 points, or 0.24 percent, from the previous day to close at 5,173 points.

The benchmark index of the country's premier bourse had hit a four-month low on Sunday, hitting 5,160 points. The last time the DSEX had reached such a level was on June 19, when it hit 5,161.

Similar to the uptick at the DSEX, the DSES index for Shariah-compliant companies also edged up by 1.42 points, or 0.12 percent, to 1,156 points.

In the blue-chip segment, the DS30 index grew by 7.54 points, or 0.40 percent, to 1,903.

Of the 397 scrips that changed hands yesterday, 150 saw price hikes while 184 closed lower. The remaining 63 did not witness any price fluctuation.

The day's turnover, which indicates the total value of shares traded on the DSE trading floor, stood at Tk 344 crore, a decrease of 4.87 percent compared to the previous day's trading session.

The banking sector dominated the turnover chart, accounting for 19.63 percent of the total.

The contribution of block trades, meaning high-volume transactions in securities that are privately negotiated and executed outside of the open market, stood at 6 percent of overall market turnover.

Taufika Foods and Lovello Ice-cream PLC emerged as the most traded shares, with a combined turnover of Tk 34.2 crore.

Sector-wise, the services & real estate, cement, and information technology were the top three sectors that closed in the positive, UCB Stock Brokerage said in its daily market update.

On the other hand, travel & leisure, telecom, and general insurance were the top three sectors that closed in the negative.

The sectors that account for large amounts in market capitalisation showcased negative performances, as per the daily market update of BRAC EPL Stock Brokerage.

The engineering sector posted the highest gain of 0.94 percent, followed by the banking sector (0.48 percent), and the food & allied sector (0.44 percent).

Some sectors failed to manage gains like fuel & power (0.09 percent), non-bank financial institutions (0.14 percent), pharmaceuticals (0.27 percent), and telecommunication (0.97 percent).

In the individual company category, Far East Knitting & Dyeing Industries Limited dominated the gainers' chart with a rise of 10.98 percent.

Salvo Chemical Industry Limited, United Finance Limited, Heidelberg Materials Bangladesh PLC, Runner Automobiles PLC, International Leasing & Financial Services Ltd, Rupali Bank and Saiham Cotton Mills Limited also showcased good performance.

Esquire Knit Composite PLC shed the most, losing 8.19 percent.

Among the losers were New Line Clothings Limited, Jute Spinners Ltd, Bangas Ltd, Sonar Bangla Insurance Ltd, Padma Islami Life Insurance Limited, Envoy Textiles Limited and Aziz Pipes Ltd.

However, the Chittagong Stock Exchange (CSE) continued its downward trend as the CSE All-Share Price Index, the major index of the port city bourse, slumped by 36.64 points, or 0.25 percent, to settle at 14,513.

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Stocks bounce back after five-day losing streak

The indexes of the Dhaka Stock Exchange (DSE) rose today, snapping a five-day losing streak on the back of the good performance of shares in the blue-chip and large-cap sectors.

Shares of Islami Bank Bangladesh, BRAC Bank, Heidelberg Materials Bangladesh PLC, Bangladesh Steel Re-rolling Mills, Orion Pharma, BAT Bangladesh, Square Pharmaceuticals, MJL Bangladesh, Premier Cement Mills, and Saif Powertec Limited drew the most investors, according to the daily market update by LankaBangla Financial Portal.

However, none of these companies saw double-digit growth in share prices.

The highest growth was logged in the share prices of Islami Bank Bangladesh and BRAC Bank, rising by over four percent each.

Meanwhile, the share prices of Grameenphone, IFIC Bank, Prime Bank, National Bank, JHR Hospital Requisite Manufacturing Limited, Beximco Pharmaceuticals, Al-Arafah Islam Bank, Unique Hotel & Resorts PLC, BBS Cables and Robi Axiata Limited fell.

The DSEX went up by 12.38 points, or 0.24 percent, from the previous day to close at 5,173 points.

The benchmark index of the country's premier bourse had hit a four-month low on Sunday, hitting 5,160 points. The last time the DSEX had reached such a level was on June 19, when it hit 5,161.

Similar to the uptick at the DSEX, the DSES index for Shariah-compliant companies also edged up by 1.42 points, or 0.12 percent, to 1,156 points.

In the blue-chip segment, the DS30 index grew by 7.54 points, or 0.40 percent, to 1,903.

Of the 397 scrips that changed hands yesterday, 150 saw price hikes while 184 closed lower. The remaining 63 did not witness any price fluctuation.

The day's turnover, which indicates the total value of shares traded on the DSE trading floor, stood at Tk 344 crore, a decrease of 4.87 percent compared to the previous day's trading session.

The banking sector dominated the turnover chart, accounting for 19.63 percent of the total.

The contribution of block trades, meaning high-volume transactions in securities that are privately negotiated and executed outside of the open market, stood at 6 percent of overall market turnover.

Taufika Foods and Lovello Ice-cream PLC emerged as the most traded shares, with a combined turnover of Tk 34.2 crore.

Sector-wise, the services & real estate, cement, and information technology were the top three sectors that closed in the positive, UCB Stock Brokerage said in its daily market update.

On the other hand, travel & leisure, telecom, and general insurance were the top three sectors that closed in the negative.

The sectors that account for large amounts in market capitalisation showcased negative performances, as per the daily market update of BRAC EPL Stock Brokerage.

The engineering sector posted the highest gain of 0.94 percent, followed by the banking sector (0.48 percent), and the food & allied sector (0.44 percent).

Some sectors failed to manage gains like fuel & power (0.09 percent), non-bank financial institutions (0.14 percent), pharmaceuticals (0.27 percent), and telecommunication (0.97 percent).

In the individual company category, Far East Knitting & Dyeing Industries Limited dominated the gainers' chart with a rise of 10.98 percent.

Salvo Chemical Industry Limited, United Finance Limited, Heidelberg Materials Bangladesh PLC, Runner Automobiles PLC, International Leasing & Financial Services Ltd, Rupali Bank and Saiham Cotton Mills Limited also showcased good performance.

Esquire Knit Composite PLC shed the most, losing 8.19 percent.

Among the losers were New Line Clothings Limited, Jute Spinners Ltd, Bangas Ltd, Sonar Bangla Insurance Ltd, Padma Islami Life Insurance Limited, Envoy Textiles Limited and Aziz Pipes Ltd.

However, the Chittagong Stock Exchange (CSE) continued its downward trend as the CSE All-Share Price Index, the major index of the port city bourse, slumped by 36.64 points, or 0.25 percent, to settle at 14,513.

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