Stocks make a comeback

The benchmark index of Dhaka Stock Exchange (DSE) staged a comeback yesterday, snapping a two-day losing streak.

The DSEX rebounded to close higher by 37.68 points, 0.66 percent, from that on the day before at 5,776.08.

Similarly, the DSES, the index that represents Shariah-based firms, gained 11.83 points, 0.95 percent, to 1,257.16, and the DS30, which comprises blue-chip stocks, edged up 12.41 points, 0.62 percent, to 2,014.13.

Turnover, which indicates the volume of shares traded during the session, stood at Tk 433 crore, marking an increase of 18.03 percent.

According to the market update by UCB Stock Brokerage, paper and printing, travel and leisure and services and real estate sectors closed in the positive while bank and jute sectors closed in the negative.

The textile sector dominated the turnover chart, accounting for 18.42 percent of the total turnover.

Shanta Securities, in its market update, added that the market movement was driven by positive changes in the market capitalisation of travel and leisure, paper and printing, and financial institution scrips.

Market capitalisation refers to the total value of a company's outstanding shares of stock.

Malek Spinning Mills topped the turnover list, accounting for 4.64 percent, followed by Alif Industries (8.32 percent), Shinepukur Ceramics (4.62 percent), and Taufika Foods and Lovello Ice-Cream (6.01 percent).

The total turnover of block trades, meaning large, privately negotiated securities transactions, stood at Tk 36 crore, representing 8.4 percent of the day's turnover.

In its daily market update, BRAC EPL Stock Brokerage said all sectors which account for large amounts in market capitalisation posted positive performances.

Non-bank financial institution booked the highest gain of 1.81 percent, followed by engineering (1.04 percent), pharmaceuticals (0.99 percent), telecommunication (0.74 percent), fuel and power (0.56 percent), food and allied (0.09 percent), and bank (0.33 percent).

Metro Spinning and Maksons Spinning Mills topped the gainers' chart with an increase of around 9.60 percent each.

They were followed by Alif Industries (8.32 percent), Jute Spinners (7.35 percent), Takaful Islami Insurance (7.24 percent), and Taufika Foods and Lovello Ice-Cream (6.01 percent).

Yeakin Polymer, Beacon Pharmaceuticals, Prime Textile Spinning Mills and Coppertech Industries were also on the gainers' list.

Eastern Bank shed the most, losing 13.79 percent.

Eastland Insurance Company and Nitol Insurance Company lost more than five percent each while Express Insurance and Paramount Insurance Company over four percent each.

Asiatic Laboratories, Emerald Oil Industries, Uttara Finance and Investments and Shyampur Sugar Mills were also on the list of those suffering the biggest losses.

Of the issues that changed hands on the DSE, 279 gained, 64 declined, and 52 did not see any price swing.

Chittagong Stock Exchange (CSE) saw a similar trend as the Caspi, the main index of the port city bourse, edged up 92.81 points, or 0.56 percent, to close at 16,530.