Stocks resume rally after a day’s break
Investors’ participation in the DSE helped the daily turnover to increase by 1.8%
Stocks at both the Dhaka and Chattogram bourses returned to a winning streak on Monday, following a day's break on Sunday.
"The rally was fuelled by increased participation of investors," said EBL Securities in their market commentary.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), increased 61.54 points or 0.88% to 6,994 points, after losing more than 54 points the previous day.
Despite volatility in the early hours of trading, the market saw steady gains as bargain hunters took a position in some large-cap stocks.
It was a big day for the state-run companies, especially the Power Grid Company, Titas Gas, Bangladesh Submarine Cable Company, and Bangladesh Shipping Corporation, stock prices of which gained substantially in the second half of the session as the profit-making firms attracted more investors.
Besides, investors' participation in the DSE inched up to help the daily turnover increase by 1.8% to Tk1,487 crores.
Fuel-power, miscellaneous, and engineering sectors made the largest contribution to the daily turnover.
Most of the sectors displayed satisfactory performance, out of which services, fuel-power and financial institutions gained the maximum 3.2%, 2.7% and 2.2% respectively.
Mutual fund, general insurance and jute sectors suffered a moderate correction on Monday.
The majority of the stocks closed in the green territory.
Out of the 377 issues traded, 178 advanced, 158 declined, and 41 remained unchanged in the DSE.
Indices of the Chittagong Stock Exchange (CSE) also closed upward on Monday, with Tk44.8 crores in the daily turnover, up from that of Tk40.5 on Sunday.
