Bangladesh stock market news: Indices witness mixed performance over sales pressure | The Business Standard
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February 08, 2023

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WEDNESDAY, FEBRUARY 08, 2023
Indices witness mixed performance over sales pressure

Stocks

TBS Report
23 August, 2020, 11:55 am
Last modified: 23 August, 2020, 08:37 pm

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Indices witness mixed performance over sales pressure

Index refused to pick up as the late-hour sales pressure from the bargain hunting investors prevailed until the closure of trading hours in effort to book some capital gains

TBS Report
23 August, 2020, 11:55 am
Last modified: 23 August, 2020, 08:37 pm
Indices witness mixed performance over sales pressure

The capital bourse Dhaka Stock Exchange (DSE) observed another flat session, while port city bourse witnessed a downward trend at the end of Sunday's trading session.

DSEX, the key index of DSE, stayed afloat at 4,795 points -- a mere 0.02 percent up from the previous session -- in the midst of choppy trading activities.

The port city's bourse, Chittagong Stock Exchange's key index CASPI decreased by 47 points.

Index refused to pick up as the late-hour sales pressure from the bargain hunting investors prevailed until the closure of trading hours in effort to book some capital gains preceded by the recent rally in the capital market, according to EBL Securities daily market review.

The review said many opportunist investors intend to take position on Express Insurance Ltd which is set to make its debut on the premier trading board from Monday.

In the meantime, the Bangladesh Securities and Exchange Commission's (BSEC) stance on clearing the quality IPO within the shortest timeframe may bring positive momentum in the market provided that investors are given more investable grade scrips with practice of good governance within the organisation, said the review.

Meanwhile, United Securities said in its review that among the notable news, banks' excess liquidity hit the all-time high of around Tk1.40 trillion in June. All the financial sub-sectors recorded decline in their growth rates in the immediate past fiscal year.  Inflation fell 49 basis points to 5.53 percent in July compared to a month earlier.

The review termed the central bank Thursday circular -- which said foreign investors and non-resident Bangladeshis now can invest in 'open-ended mutual funds' through Non-resident Investors Taka Account (NITA) -- good news for the capital market.

It also said, the DSE is coming to the rescue of stockbrokers as the premier bourse is set to increase their share buying capacity without keeping security deposits.

However, turnover on the DSE trading floor increased only by 0.1 percent to Tk938 crore.

Investors' attention was mostly concentrated on pharmaceuticals and chemicals, textile and bank sectors.

Among other sectors, jute, food, allied and general insurance showed highest price appreciation Sunday while bank, mutual fund and ceramic sectors showed highest price correction in Sunday's session.

Out of 355 issues traded in DSE, 170 issues advanced, 142 issues declined and 43 issues remained unchanged.

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DSE / Chittagong Stock Exchange / DSEX

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