Stocks claw back losses to end mixed
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SATURDAY, JULY 02, 2022
Stocks claw back losses to end mixed

Stocks

TBS Report
02 February, 2020, 07:30 pm
Last modified: 02 February, 2020, 07:33 pm

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Stocks claw back losses to end mixed

The market movement remained sluggish during the early hours of the trading session, but picked up a growth momentum during the mid-session

TBS Report
02 February, 2020, 07:30 pm
Last modified: 02 February, 2020, 07:33 pm
File Photo: Rehman Asad/TBS
File Photo: Rehman Asad/TBS

Stocks ended mixed on Sunday as investor participation displayed a portfolio restructuring strategy to dodge heavy losses. 

The prime index of the Dhaka Stock Exchange, DSEX, inched up 12 points or 0.3 percent to close the day at 4,482 points. 

However, the Shariah-based DSES index slipped 0.1 percent to settle at 1,027 points, while the DS30, the blue-chip index, gained a point or 0.1 percent to stand at 1,525 points. 

At the port city bourse, CASPI – the benchmark index – witnessed a gain of 65 points or 0.5 percent to close at 13,651 points. 

The market movement remained sluggish during the early hours of the trading session, but picked up a growth momentum during the mid-session. After that, a slightly downward movement was observed and finally, the prime index managed to close the day above 4,400 points mark. 

Investors were engaged in portfolio rebalancing today, following the recent earnings declarations of various companies, according to the Daily Market Review of EBL Securities Ltd. 

A majority of the companies posted declines in their earnings per share, which has compelled the investors to put more weight to the stocks with positive earnings, added the review.

It further said that if this negative trend in earnings declaration carries on for the rest of the stocks, then it can disrupt the growth momentum obtained from regulatory promises and measures by the Bangladesh Bank. 

Participation of the investors stood at Tk464.7 crore today, 6 percent up from Tk439.6 crore in the previous session.

Textile stocks contributed the highest, 15.2 percent, to the total turnover value, followed by engineering stocks adding 13.9 percent, and fuel and power stocks adding 12 percent. 

Most of the sectors ended in the positive territory today, with general insurance experiencing the highest price appreciation of 3.1 percent. 

On the other hand, paper witnessed the highest price correction of 3.9 percent. 

Among the large-cap sectors, financial stocks gained 0.1 percent, pharmaceuticals lost 0.3 percent, whereas banks and telecom stocks ended flat. 

Lafarge Holcim Bangladesh Ltd was the most traded stock with a turnover value of Tk42.6 crore, closing the day at Tk50.4 per share. The stock was followed by Summit Power Ltd, with a turnover value of Tk16.7 crore, closing at Tk41.2 per share. 

The Mercantile Insurance Company Ltd was the top gainer, advancing 9.9 percent, closing at Tk29.9 per share, while Shyampur Sugar Mills Ltd was the day's worst loser after shedding 7.8 percent and closing at Tk29.6 per share, said the DSE website.

On the DSE trading floor, gainers were ahead of the losers as out of 356 issues traded, 165 advanced, 137 declined, and 54 remained unchanged. 

Economy / Top News

Stock / DSE / DSEX

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