The market gained marginally yesterday as investors took position on small-cap stocks – but turnover decreased over coronavirus worries.
DSEX, the prime index of the Dhaka Stock Exchange, gained 25 points – or 0.6 percent – to close the day at 4,435.
The Shariah-based DSES index also inched up a point – or 0.1 percent – to settle at 1,030, while the blue-chip index DS30 gained 5 points – or 0.3 percent – to stand at 1,480.
At the Chittagong Stock Exchange, the benchmark index Caspi advanced 40 points – or 0.3 percent – to close at 13,559.
The market displayed volatility in intraday performance graphs throughout the entire trading session yesterday.
Within the first hour of trade, the DSEX fell sharply but then climbed up to reach the 4,400-point mark. However, the index again dropped during the second hour and picked up growth – till the end of the session – keeping the market buoyant.
The institutional investors played a vital role in uplifting the market since four banks – Sonali, Rupali, Dhaka and City – have declared they will avail of the special fund facility to invest in sector-specific issues, said the Daily Market Review of EBL Securities Ltd.
The indices emerged from a seven-session bearish trend as many opportunist investors showed their buying appetite for safer and profitable securities – considering lucrative price levels – the review added.
Trading activities, however, remained sluggish as investors were worried about the impacts of coronavirus on the country's economy, the review further added.
All sectors witnessed price appreciation yesterday – except travel exhibiting a price correction of 1.1 percent, and miscellaneous stocks losing 0.2 percent in the sector return board.
The IT sector faced the highest price appreciation of 2.3 percent.
Among the large-cap sectors, financial institutions witnessed a price gain of 0.6 percent, banks advanced 0.5 percent, and pharmaceuticals and telecoms both gained 0.4 percent.
Turnover at the DSE decreased by eight percent to Tk419.7 crore yesterday, from Tk456.2 crore in the previous session.
However, turnover at the port city bourse went up two percent from Tk15.7 crore to Tk16 crore yesterday.
The pharmaceuticals sector contributed the most – 22.5 percent – to the total turnover value, followed by textile stocks adding 14.6 percent and the engineering sector adding 13.8 percent.
Far Chemical Industries Ltd dominated the turnover chart with a turnover value of Tk13.5 crore, closing the day at Tk12.2 per share. The stock was followed by VFS Thread Dyeing Ltd with a turnover value of Tk11.4 crore, closing at Tk30.5 per share.
Global Heavy Chemicals Ltd topped the gainers' table after advancing 9.9 percent and closing at Tk38.7 per share, said the DSE website.
FAS Finance and Investment Ltd was the day's worst loser after shedding 10 percent and closing at Tk3.6 per share yesterday.
Gainers sharply outnumbered the losers as out of the 355 issues traded, 229 advanced, 75 declined, and 51 remained unchanged on the DSE trading floor.