Stocks begin new year on positive note
DSEX jumped 1.43% on the first trading session of the new year
Stocks opened the year with a decent optimism that attracted many investors in bargain hunting into the recently corrected stocks.
On Sunday, DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), jumped 1.43% to 6,853 points during the closing as buying appetite was observed across the board.
On the DSE, 294 scrips advanced, 64 declined and 20 remained unchanged.
Investors went for bargain hunting throughout the session as positive macroeconomic news and recent regulatory initiatives boosted their confidence, said EBL Securities in its daily market commentary.
However, DSE's daily trading turnover declined 3% to Tk894 crore on Sunday.
Miscellaneous stocks contributed to 17.94% of the DSE turnover, while general insurance, and banking stocks followed through – each contributing to more than 10% of the daily turnover.
Most sectors displayed positive performance, out of which travel and leisure gained the maximum 5.4%, service and real estate sector's market capitalisation expanded 3.8% and tannery sector gained 3.4%.
The paper and printing sector's market capitalisation declined 3.8% while the jute sector lost 0.8%.
In the Chittagong Stock Exchange (CSE), indices gained 1%-2%, while daily turnover at the port city bourse drastically dropped to Tk27.15 crore on Sunday from over Tk58 crore in the previous session.
