Stocks rise after last week’s decline

The benchmark index of Dhaka Stock Exchange (DSE) rose yesterday on falling for two days last week as investors traded select shares to pocket short-term profits.

The DSEX, the broad index of the country's premier bourse, edged up by 18.98 points, or 0.34 percent, from that on the day prior to close at 5,658.

The DSES index, which comprises Shariah-based companies, went up by 9.15 points, or 0.72 percent, to 1,271.

However, the DS30 index, comprising blue-chip firms, lost 2 points, or 0.10 percent, to reach 2,060.

At Chittagong Stock Exchange, the CASPI, the key index of the port city bourse, went down by 27.37 points, or 0.17 percent, to settle at 15,765.

The day's turnover at the DSE, meaning the total value of shares changing hands on the trading floor, stood at Tk 481 crore, a decrease of 9.33 percent.

The banking sector dominated the turnover chart, accounting for 33.64 percent of the day's total.

Block trades, meaning high-volume transactions in securities that are privately negotiated and executed outside of the open market, contributed another 1.8 percent.

Grameenphone emerged as the most-traded share with a turnover of Tk 32.8 crore.

In its daily market update, BRAC EPL Stock Brokerage said sectors that account for large amounts in market capitalisation, which is the total value of a company's outstanding shares, posted a negative performance.

Non-bank financial institutions (NBFIs) experienced the highest loss of 1.13 percent, followed by engineering (0.55 percent), pharmaceuticals (0.52 percent), telecommunication (0.36 percent) and fuel and power (0.25 percent).

Some sectors, however, managed to make gains, such as food and allied (0.13 percent) and banking (0.63 percent).

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

Meanwhile, jute, paper and printing and tannery became the top three sectors that closed in the negative.

Of the issues that were traded on the DSE, prices of 153 went up, 39 remained unchanged, while the rest of the 205 closed lower.