Stocks surge as turnover inches up, indices rise
DSEX, the broad index of the Dhaka Stock Exchange, advanced by 17.6 points to settle at 5,316 points as against 5,299 points in the previous trading session.
Stocks surged today (26 April), the first trading session of the week, as rising turnover and investor interest in select sector-specific shares lifted both indices and market activity.
DSEX, the broad index of the Dhaka Stock Exchange, advanced by 17.6 points to settle at 5,316 points as against 5,299 points in the previous trading session.
While DS30, the blue-chip index, surged 11 points to settle at 2,026 points and DSE's shariah index declined 1.44 points to 1,065 points, the DSE data showed.
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Of the traded stocks, 157 scrips advanced, 172 or majority stocks price declined and 62 remained unchanged.
While the turnover soared by 11% to Tk982.42 crore, the data showed.
EBL Securities in its daily market commentary said the market began the week on a positive note, supported by selective accumulation in December-closing stocks on expectations of strong earnings, offsetting persistent concerns over momentum amid developments in Middle East ceasefire talks.
"Despite opening on a firm note, the market encountered sustained mid-session selling pressure; however, robust early buying support enabled indices to close in positive territory, while insurance stocks gained momentum on short-term, earnings-driven accumulation," it said.
On the sectoral front, General Insurance accounted for the highest share by 17.7% of turnover, followed by Engineering by 15.0% and Bank sector by 12.5% sectors.
Sectors mostly displayed mixed returns, out of which General Insurance, Life Insurance and Food exhibited the most positive returns.
Safko Spinning Mills topped the gainer chart as its shares price surged by 10%, the highest daily limit, to Tk19.8 each followed by Apex Tannery by 9.94% to Tk95.1 each, Purabi General Insurance by 9.84% to Tk27.9 each, Aziz Pipes by 9.82% to Tk55.9 each.
While on the losing side, International Leasing and Financial Services topped the loser list as its shares price declined by 8% to Tk2.3 each, followed by Peoples Leasing and Financial Services by 7.40% to Tk2.5 each, Regent Textile by 7.14% to Tk3.9 each, BD Finance by 6.45% to Tk11.6 each, and Rupali Bank by 6.18% to Tk18.2 each.
The port city bourse, CSE, also settled on a positive territory. The Selective Categories' Index (CSCX) and All Share Price Index (CASPI) declined by 35.4 points and 44.7 points, respectively.
