Stocks rise marginally
Stocks in Bangladesh yesterday rose marginally.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose by 0.01 percent from the day prior to close at 5,700 points.
The DSES, an index representing Shariah-compliant companies, advanced by 0.16 percent to 1,220 points while the DS30, which comprises blue-chip stocks, increased by 0.12 percent to 2,088 points.Earlier, in the day, Khondoker Rashed Maqsood, the new chairman of the Bangladesh Securities and Exchange Commission, said that they will conduct a comprehensive review of the BSEC's operations over the past 10 years and establish good governance in the market to bring back investor confidence.
However, daily turnover of the DSE, which is a measure of the total value of shares traded, decreased by 28.32 percent to Tk 558 crore.
The banking sector dominated the turnover chart, accounting for 31.89 percent of the day's total.
Block trades, which are high-volume transactions in securities that are privately negotiated and executed outside of the open market, also contributed a significant 6.5 percent of the overall market turnover.
Shares of Midland Bank Limited were traded the most, registering turnover of Tk 38.0 crore.
In a daily market update, BRAC EPL Stock Brokerage said that its index indicating the performance of sectors with high market capitalisation edged up by 0.11 percent to 1,135 points.
Market capitalisation refers to the total value of a company's shares owned by investors in each sector.
The engineering sector booked the highest gain of 1.48 percent followed by pharmaceuticals with 0.54 percent, banking 0.33 percent, food and allied 0.29 percent, and fuel and power 0.09 percent.
Meanwhile, non-bank financial institutions logged a loss of 1.21 percent while the telecommunication sector receded by 1.52 percent.
Of the issues traded at the DSE, 124 scrips saw their prices advance while that of 240 others fell and 34 did not witness any fluctuation.
Shares of Square Pharmaceuticals, Islami Bank Bangladesh, Olympic Industries, United Commercial Bank, Beximco Pharmaceuticals, Midland Bank, Pragati Life Insurance, GPH Ispat, Heidelberg Materials Bangladesh, and Power Grid Company of Bangladesh were among those that saw the most trade, according to the LankaBangla Financial Portal.
Shares of Grameenphone, BRAC Bank, Beacon Pharmaceuticals, National Bank, Renata, Pubali Bank, Best Holdings, Shahjalal Islami Bank, Unique Hotels and Resorts, and Orion Pharma showcased a tame performance.
Midland Bank topped the gainers' chart with a rise of 9.96 percent followed by Pragati Insurance and Pragati Life Insurance with 9.85 percent and 9.28 percent respectively.
Aftab Automobiles, ACI Limited, Nurani Dyeing and Sweater, NRBC Bank, Rupali Bank, Progressive Life Insurance Company, Social Islami Bank, Paramount Insurance Company and NRB Bank were among the shares that displayed strong performances.
KDS Accessories shed the most by losing 3 percent followed by Intraco Refueling Station, and Rangpur Dairy and Food Products with identical losses of 3 percent each.
Atlas Bangladesh, Paper Processing and Packaging, Jute Spinners, Libra Infusions, Sonali Aansh Industries, Sonali Paper and Board Mills, and Navan Pharmaceuticals suffered losses as well.
The situation was different at the Chittagong Stock Exchange as the Caspi, the main index of the port city bourse, dragged downward by 0.01 percent from the previous day to settle at 16,375 points.
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