Stocks edge up as lockdown eases ahead of Eid

Investors have confidently poured money to buy shares as the government eased the ongoing strict lockdown for seven days ahead of Eid-ul-Adha and also decided to resume the mass inoculation programme for Covid-19 across the country.

As a result, the key index DSEX of the Dhaka Stock Exchange (DSE) charged up by 0.92% to close at 6,266 points on Tuesday. This is the highest mark for the DSEX to reach in the last three and a half years.

The blue-chip index DS30 of the DSE also gained 0.65% to reach 2,273 points.

EBL Securities said in its daily market review, the previous day's marginal correction prompted investors to exert buying pressure at a lucrative price level as investors are much relaxed on the trading bourse due to the easing of nationwide restrictions ahead of Eid.

But the worries of investors may be widened by the adverse impact on the economy from the instruction of the cabinet ministry to close all industries including garments for two weeks after Eid, it added.

The DSE turnover also increased by 4% to stand at Tk1,668.51 crore on Tuesday compared to the previous trading day.

During Tuesday's session, 212 companies' share prices advanced, 129 declined and 32 remained unchanged at the DSE.

The most-traded share is Beximco Limited with a trade value of Tk181 crore as the company announced the record date for entitled shareholders to subscribe to the green Sukuk bond.

Junck company Fine Foods, which is traded under the B category, secured the top position in the gainer list followed by Fortune Shoe and International Leasing.

Sonali Life Insurance was the worst share which lost 6% prices due to selling pressure for booking profit as its share prices jumped above 400% on Monday.

The port city bourse Chittagong Stock Exchange's key index CASPI gained 179 points to close at 18,220.