Stocks rebound with BSEC’s new margin loan limits
DSEX surged by 1.73% to reach 5,177 points
Indices of both the stock exchanges recovered on Monday, after posting massive declines in the previous session, thanks to the securities regulator revising the margin loan limit in a move to stop force selling from client codes.
DSEX, the key index of the Dhaka Stock Exchange (DSE) surged 1.73% to reach 5,177 points. The Shariah index DSES rose 1.42% to 1,182 points, and the blue-chip index DS30 jumped 2.28% to 1,944 points.
Earlier, in Sunday's trading session, the DSEX nosedived 3.44% owing to the government's announcement of a seven-day lockdown.
EBL Securities said in its daily market commentary, the Bangladesh Securities and Exchange Commission (BSEC) has announced a 2 hour trading window in the second phase lockdown.
The directive of increased credit facilities for up to 80% of the maximum margin loan limit, has pulled the market upward and into the green, it continued.
DSE turnover, one of the major indicators of the stock market, stood at Tk236 crore.
On Monday, the general insurance sector contributed the highest - 18.28% - to the DSE total turnover, followed by bank and other miscellaneous stocks.
Beximco Limited dominated the scrip-wise turnover board and contributed 13.92% to the total turnover, followed by Robi and Beximco Pharma.
The highest return of 4.9% was taken by investors in the service sector, followed by cement and non-banking financial institutions yielding high returns.
Appollo Ispat secured top position at the gainers' table. Its share price rose by 9.80% to Tk5.6 each, followed by Keya Cosmetics and ACI Formulation Limited.
Shahjalal Islami Bank was the day's worst loser, posting a 10.90% fall in price to settle at Tk19.6 per share.
Of the 321 issues traded at the DSE, 231 advanced, 14 declined, and 76 remained unchanged.
CASPI, the main index of the Chittagong Stock Exchange also jumped 1.7% or 250 points to settle at 14,964.
