Stocks return to positive after fall in 5 consecutive sessions

Stocks swung back on recovery road yesterday with gains extending to more than 21 points for the broader index of the premier bourse, reports BSS.
The u-turn of all the price indices at the twin stock exchanges also broke the fall that continued in the past five consecutive sessions.
The DSEX, after holding aloof from a morning improvement, got the ultimate steam from some large-cap stocks of cement, textile, pharmaceuticals and engineering sectors.
The four sectors closed the day significantly higher, with cement and engineering advancing by 2.15 per cent each, pharmaceuticals by 0.81 per cent and textile by 0.15 per cent.
Activities on the premier Dhaka Stock Exchange (DSE) picked up on the sectoral rise, and total transaction value approximated over Tk 290 crore, 8.47 per cent higher than previous session. The volume, however, was around 5 per cent down at 7.58 crore shares because of cautious trade.
Market analysts said the modest positive vibe was a result of news about possible extension of time limit for banking sector for adjustment of over exposure to the capital market. The extension of deadline for pharmaceutical sectors on compliance issues on the global market was also encouraging for investors.
Subsequently, a sizeable share of the day’s volume was accounted for pharmaceutical sector, with Squire Pharma and Beximco Pharma taking the 2nd and the 5th positions respectively among the top five turnover leaders.
Engineering sector’s Ifad Autos was at the top of the list when mobile giant Grameen Phone and cement company Lafarge Surma got the 3rd and the 4th positions accordingly.
IDLC Investment Limited attributed the recovery to the buying of the large-cap shares by some investors for short-term profit-booking as these scrips with sound fundamentals became cheaper on recent price fall.
The market became sellers’ one as 152 issues closed higher.
The major advancing companies were Hakkani Pulp, Anwar Galvanizing, Monno Ceramic, Standard Insurance and Far Chemicals.
There were, however, notable exceptions to the comeback and some sectors, including bank, IT and general insurance were down further. Out of the 120 lagging issues, the major losers were Shympur Sugar, Daffodil Computer, BD Autocars, Rahima Food and Samorita.
Like DSE, Chittagong Stock Exchange (CSE) also ended in green on Monday, with its major CSCX gaining nearly 53 points to finish at 8440.
Out of the day’s 232 issues traded, 110 gained and 94 incurred losses when over 60 lakh shares changed hands for Tk 20.45 crore.

Stocks return to positive after fall in 5 consecutive sessions

Stocks swung back on recovery road yesterday with gains extending to more than 21 points for the broader index of the premier bourse, reports BSS. The u-turn of all the price indices at the twin stock exchanges also broke the fall that continued in the past five consecutive sessions. The DSEX, after holding aloof from a morning improvement, got the ultimate steam from some large-cap stocks of cement, textile, pharmaceuticals and engineering sectors. The four sectors closed the day significantly higher, with cement and engineering advancing by 2.15 per cent each, pharmaceuticals by 0.81 per cent and textile by 0.15 per cent. Activities on the premier Dhaka Stock Exchange (DSE) picked up on the sectoral rise, and total transaction value approximated over Tk 290 crore, 8.47 per cent higher than previous session. The volume, however, was around 5 per cent down at 7.58 crore shares because of cautious trade. Market analysts said the modest positive vibe was a result of news about possible extension of time limit for banking sector for adjustment of over exposure to the capital market. The extension of deadline for pharmaceutical sectors on compliance issues on the global market was also encouraging for investors. Subsequently, a sizeable share of the days volume was accounted for pharmaceutical sector, with Squire Pharma and Beximco Pharma taking the 2nd and the 5th positions respectively among the top five turnover leaders. Engineering sectors Ifad Autos was at the top of the list when mobile giant Grameen Phone and cement company Lafarge Surma got the 3rd and the 4th positions accordingly. IDLC Investment Limited attributed the recovery to the buying of the large-cap shares by some investors for short-term profit-booking as these scrips with sound fundamentals became cheaper on recent price fall. The market became sellers one as 152 issues closed higher. The major advancing companies were Hakkani Pulp, Anwar Galvanizing, Monno Ceramic, Standard Insurance and Far Chemicals. There were, however, notable exceptions to the comeback and some sectors, including bank, IT and general insurance were down further. Out of the 120 lagging issues, the major losers were Shympur Sugar, Daffodil Computer, BD Autocars, Rahima Food and Samorita. Like DSE, Chittagong Stock Exchange (CSE) also ended in green on Monday, with its major CSCX gaining nearly 53 points to finish at 8440. Out of the days 232 issues traded, 110 gained and 94 incurred losses when over 60 lakh shares changed hands for Tk 20.45 crore.