Stocks gain for 2nd day

Staff Correspondent | Published: 23:32, Apr 13,2021

 
 

Dhaka stocks advanced on Tuesday, adding to the previous session’s gain as investors went for bargain hunting after the recent fall in share prices.

DSEX, the key index of the Dhaka Stock Exchange, advanced by 1.35 per cent, or 70.22 points, to close at 5,258.5 points on Tuesday after gaining 23.57 points in the previous session.

The key index started gaining from the very beginning of Tuesday’s session and climbed more firmly as the time progressed as investors went on bargain hunting, market operators said.

Share prices of most of the companies had fallen heavily in recent weeks that also provoked some investors to buy shares at lucrative prices, they said.

They said that investors went for buying shares ahead of the eight-day restrictions the government is going to enforce from today to check the fresh wave of COVID-19 outbreak.

Backtracking on their Monday’s decisions, the Bangladesh Bank and the Bangladesh Securities and Exchange Commission on Tuesday asked scheduled banks and stock exchanges to keep their operations open with shortened working hours in the April 14-21 restrictions period.

Before the two-day gain, the DSEX had lost 172.5 points in two trading days as investors were nervous with the worsening coronavirus situation in the country.

EBL Securities in its daily market commentary said the hyped-up insurance stocks dominated the turnover board on Tuesday.

Average share prices of all sectors advanced on the day.

Share prices of general insurance, non-bank financial institution, pharmaceutical and bank sectors increased by 2.8 per cent, 2.5 per cent, 1.3 per cent and 1.1 per cent respectively.

Of the 346 scrips traded on the DSE on Tuesday, 228 advanced, 63 declined and 56 remained unchanged.

The turnover on the DSE increased to Tk 511.93 crore on Tuesday from Tk 494.31 crore in the previous session.

DS30, a composition of 30 large capitalised companies, also added 1.87 per cent, or 36.82 points, to close at 1,997.57 points on Tuesday.

Shariah index DSES added 1.31 per cent, or 15.6 points, to settle at 1,198.57 points.

BEXIMCO led the turnover chart with its shares worth Tk 40.89 crore changing hands on the day.

BD Finance, Robi, Central Insurance Company, LafargeHolcim Bangladesh, GBB Power, Asia Pacific Insurance, Sonar Bangla Insurance and Beximco Pharmaceuticals were the other turnover leaders on the day.

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