Stocks rebound after three-day fall
Major indices of the stock market in Bangladesh yesterday saw a rebound from three days of constant decline as shares in the large-cap and blue-chip categories performed well amid intense selling pressure.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE) edged up by 67.58 points, or 1.28 percent, from the previous day to close the session at 5,333 points.
Islami Bank Bangladesh contributed the most by adding 27.70 points.
Investors were also particularly interested in shares of Beacon Pharmaceuticals, Grameenphone, BAT Bangladesh, Square Pharmaceuticals, City Bank, Beximco Pharmaceuticals, Bangladesh Shipping Corporation, Orion Pharma and Khan Brothers PP Woven Bag Industries.
The DSES index, which reflects the performance of Shariah-compliant companies, witnessed a similar trend as it rose by 19.78 points, or 1.68 percent, to close at 1,195 points.
Likewise, the DS30 index for blue-chip stocks increased by 23.77 points, or 1.22 percent, to 1,977 points.
Of the 395 scrips traded at the DSE yesterday, 198 saw their prices rise while that of 133 others closed lower and the remaining 64 did not witness any change.
The DSE's Daily turnover, which indicates the total volume of shares traded, increased by 3.02 percent from the previous trading session to Tk 577 crore.
The general insurance sector dominated the turnover chart, accounting for 18.31 percent of the total.
Block trades, which refer to high-volume securities transactions that are privately negotiated and executed outside of the open market, contributed 20.5 percent of the turnover.
Bangladesh Shipping Corporation emerged as the most traded share, registering turnover of Tk 30 crore.
General insurance, non-bank financial institutions (NBFIs) and life insurance became the top three sectors that closed in positive territory, according to the daily update by UCB Stock Brokerage.
However, paper and printing, jute and ceramics were the top three sectors to close in the negative.
Sonar Bangla Insurance notched the highest gain of 10 percent while Runner Automobiles, Shepherd Industries and Sikder Insurance Company followed closely with gains of more than 9 percent each.
Pragati Life Insurance, Crystal Insurance Company, Meghna Insurance Company, Paramount Insurance Company, Islami Bank, Karnaphuli Insurance Company and Shyampur Sugar Mills were also among the top gainers.
Shares of Bangladesh Monospool Paper Manufacturing Company shed the most, losing 11.60 percent.
It was followed by Stylecraft, Union Insurance Company, Kay and Que (Bangladesh), Aramit Cement, Shahjibazar Power Company and Dhaka Electric Supply Company.
Energypac Power Generation, Eastern Cables, Sonali Paper and Board Mills, Nurani Dyeing and Sweater and Bangladesh Building Systems suffered losses as well.
All the sectors that account for large amounts in market capitalisation, which refers to the value of a company's outstanding shares, posted positive performances, BRAC EPL Stock Brokerage said in its daily market update.
The NBFI sector experienced the highest gain of 2.64 percent followed by telecommunication with 2.17 percent, banking with 1.20 percent, food and allied with 1.08 percent, pharmaceuticals with 1.08 percent and engineering with 0.87 percent.
On the other hand, the fuel and power sector endured a loss of 0.31 percent.
At the Chittagong Stock Exchange (CSE), the CSE All-Share Price Index, the prime index of the port city bourse, rose by 45.96 points, or 0.31 percent, to settle at 14,842.
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