Stocks inch up amid higher turnover
DSEX inched up 0.07% on Wednesday and settled at 6,305
Stocks extended their upward momentum from Tuesday and posted meagre gains yesterday as bargain hunters continued to take positions in sector-specific stocks.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), inched up 0.07% on Wednesday and settled at 6,305.
Also, the daily turnover at the DSE increased by 27% to Tk662.5 crore. Of all the issues traded, 84 advanced, 73 declined, and 162 stayed the same as they were in the previous trading session.
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In its daily market commentary, EBL Securities said investors were active on both sides of the trading fence, causing the core index to observe a flat movement throughout the session.
"Risk averse investors continued their cautious selling approach, while some opportunistic investors chased selective scrips which they perceived as a chance to harness a short-term gain," the review added.
Investors' optimism on the rallied insurance stocks continued to dominate the turnover board, as the sector contributed the highest 34.6% to the day's turnover. Food added 15.2% and life insurance stocks 6.8%.
The sectors displayed mixed returns on Wednesday, with general insurance, travel, and mutual funds posting the highest price appreciations of 2.7%, 2.4%, and 1.1% respectively.
On the other hand, paper, life insurance, and services sectors faced the highest corrections of 1.3%, 0.5%, and 0.3% in that order.
Agrani Insurance was the day's top gainer with a price appreciation of 10%. Fu Wang Food, on the other hand, was the top loser with a 7.5% price fall.
