Government Policy

Stocks recover despite lower transactions

DHAKA, Feb 6, 2017 (BSS) - Stocks recovered Monday despite lower transactions during the most of the trading sessions, with investors focusing on large-cap stocks.

All the market indicators at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) regained Monday as prices of majority of issues traded advanced on higher demand. But the daily transactions at DSE fell for ten consecutive sessions from January 24.

DSEX - the broader index of DSE - recovered by over 40 points to close higher at 5363.09. The blue-chip DS30 and the Shariah DSES also finished the session up at 1961.85 and 1257.29 accordingly.

The day's transactions fell due to cautious trading by both the individual and institutional buyers. The daily trade value was Taka 576.22 crore, down by Taka 101.75 crore from Taka 677.97 crore on Sunday and the trade volume was 16.72 crore shares, down by 4.80 crore shares from 21.52 crore shares.

Majority of the traded securities ended up on higher demand. Out of the day's 325 issues traded, 223 gained against 71 losing issues.

Insurance, textile and engineering sectors gained most on the day while the top five advancing companies included Eastern Insurance, Anlima Yarn, Rangpur Foundry, Takaful Insurance and JMI Syringes and Medical Devices.

The major lagging issues were Shyampur Sugar Mills Limited, Modern Dying, Sun Life Insurance, DBH First Mutual Fund and ICB First Mutual Fund.

Saif Power topped the turnover list, with Lanka Bangla Finance, Apollo Isphat, RSRM Steel and ACI Formula.

CSE also showed a strong recovery trend, with its major CASPI index surging by 128.11 points to end the session at 16,568.73.

The market was bullish as majority of the traded issues gained at close when over 27 lakh securities changed hands for Taka 46.71 crore.

Out of the day's 251 traded issues, 163 gained and 63 incurred loss.

Source: Bangladesh Sangbad Sangstha (BSS)