DSE goes into 9-day vacation
Dhaka stocks advanced for the second trading session on Thursday, the last trading session before the Eid-Ul-Azha closing, as the sale of shares by retail investors reduced since there was no scope to withdraw funds before the Eid vacation.
However, the turnover of the bourse declined to Tk 219.49 crore, the lowest since Tk 162.29 crore recorded on August 12. On Wednesday, the turnover was Tk 225.84 crore.
The benchmark general index of the Dhaka Stock Exchange, DSEX, finished at 3,843.55 points, adding 0.57 per cent, or 21.98 points.
DS30, the blue-chip index of the bourse, lost 0.26 per cent, or 3.72 points, to finish at 1,387.94 points.
The DSEX and the DS30 have now gained 51.20 and 15.33 points respectively in the last two days after it had lost 345.58 and 150.67 points since September 16.
Of the 286 shares and mutual funds traded on the day, 147 advanced, 112 declined and 27 remained unchanged.
Besides support from the government entities, decrease in sell-offs played a role behind the increase in shares prices as there was no scope to withdraw funds before the Eid vacation, said market operators.
Asset management companies might have started to buy shares to realise profits, they added.
The market’s positive trend might continue if the political situation improves after the Eid vacation, said the operators.
‘Closing session ahead of Eid-Ul-Adha highlighted another demand push scenario as participants were focusing on post Eid phenomenon,’ IDLC Investments said in its daily market commentary.
‘Additionally, third quarter earning expectations [of the listed companies] forced investors’ sentiment to be positive during today’s [Thursday] session,’ it said.
Argon Denims led the turnover chart on the day as its shares worth Tk 11.85 crore changed hands.
Envoy Textile Mills, MI Cement, Square Pharmaceuticals, Heidelberg Cement, CMC Kamal, JMI Syringes and Medical Devices, Bangladesh Submarine Cable Company, Global Heavy Chemicals and Active Fine Chemicals were the day’s other turnover leaders.
Central Pharmaceuticals gained the most as the price of its shares increased by 8.97 per cent, while Desh Garmants lost the most, 9.89 per cent.
Trading on the DSE will resume on October 20 after a 9-day vacation.
Meanwhile, the DSE management has decided to add Familytex (BD) to the DSEX on October 20 as the company had fulfilled the criterion.
The DSE index committee made the decision in a meeting held on Wednesday.
-With New Age input
