Stocks edge up, but blue-chip index slips

The Dhaka Stock Exchange (DSE) saw a marginal rise in its benchmark index today (18 March), while the blue-chip index experienced a decline. 

The DSEX, the broad index, edged up by 4 points to close at 5,210. However, the DS30 index, which tracks blue-chip stocks, fell by 6 points to 1,882, and the Shariah Index dropped by 2 points to 1,159.

Market turnover decreased by 11% to Tk451 crore, down from Tk505 crore in the previous session, indicating subdued investor participation. Out of 398 traded issues, 186 advanced, 156 declined, and 56 remained unchanged.

EBL Securities, in its daily market review, noted that the benchmark index managed to stay in positive territory as buyers slightly dominated the session, despite active trading on both sides. Investor interest was particularly evident in bank stocks, driven by anticipation of upcoming corporate earnings and dividend declarations. Additionally, mutual fund scrips dominated the top gainers' list, reflecting short-term investors' focus on quick gains.

Sector-wise, the pharmaceutical sector led in turnover with 14.4%, followed by banks at 12.3% and textiles at 11.1%. While most sectors displayed mixed returns, mutual funds, services, and fuel and power showed the most positive performance. In contrast, paper, cement, and engineering sectors faced the sharpest corrections.

First Prime Finance Mutual Fund topped the gainers' list, followed by Progressive Life Insurance, Safko Spinning, and Intraco Refueling. On the losing side, S Alam Cold Rolled Steels was the worst performer, trailed by Meghna Condensed Milk, RSRM Steel, and International Leasing.

The Chittagong Stock Exchange (CSE) also ended positively, with its Selective Categories Index (CSCX) rising by 5.8 points and the All Share Price Index (CASPI) gaining 12.6 points.