Stocks back to green, turnover crosses Tk700cr
Stocks, after sliding for a day, advanced again on Tuesday as bargain-hunters continued to chase quick gain opportunities from sector-specific scrips.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), moved up 0.15% to 6,317 on Tuesday, compared to the previous trading session. Shariah index DSES and blue-chip DS30 also settled in the green terrain.
Overall market participation also increased, as the daily turnover at the DSE grew by 27% to Tk734.3 crore. Out of all the issues traded, 89 advanced, 68 declined, and 183 remained unchanged on the DSE trading floor.
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According to the daily market commentary by EBL Securities, the market remained upbeat throughout the session as buyers dominated sellers across the trading floor while chasing quick rallies in selective sectors.
"Moreover, some insurance stocks regained momentum owing to the buying appetite of short-term gain focused investors with positive expectations," the review added.
On the sectoral front, general insurance stocks were the most traded ones, contributing 30.2% to the day's turnover. Food and miscellaneous stocks contributed 15.8% and 6.9% respectively.
Of all the sectors, general insurance posted the highest price appreciation of 3.8%, followed by the travel sector gaining 1.9% and mutual funds gaining 1.4%.
On the other hand, paper stocks were the ones facing the highest price correction of 1.1%, followed by jute losing 0.5%, and cement and life insurance each shedding 0.2%.
Eastern Insurance was the day's top gainer with 10% gain, while Popular Life Insurance was the top loser with a loss of 4.7%. Fu Wang Food was the most traded stock at the DSE on Tuesday.
