Stocks begin week up despite technical glitch

Dhaka stocks opened week up yesterday despite a technical glitch that halted trading at Dhaka Stock Exchange (DSE) for one and half hours. The trading at DSE began at 12 noon instead of usual 10:30 am opening, reports BSS.
“The trading system of Dhaka Stock Exchange had a delayed start due to a technical issue, which appears to relate to the infrastructure and not the matching engine or the order management system,” DSE authorities said in a press release.
The authorities also said that the work was in progress to identify, isolate, and rectify the issue.
All the three price indices of DSE, however, showed no negative response to the technical glitch. The broader DSEX gained over 65 points or 1.43 percent to close near 4600 points mark at 4596.81. Similarly, the blue-chip DS30 advanced by 24.71 percent to 1745.78 and the Shariah DSES rose by 15.72 percent to 1107.24.
Market analysts attributed the rise to voluminous trading of banking, pharmaceuticals and textile shares at higher prices.
The sectors along with engineering and telecom were the day’s most advancing sectors.
Buyers became enthusiastic immediately after opening of the session. The lively activities continued till the end of the session, increasing trade value by 6.66 percent to Taka 430 crore and the trade volume by 9.72 percent to 12.36 crore shares.
“Investors might have reacted positively to the news of hanging of war criminals”, said Lanka Bangla Securities Limited (LBSL).
It also observed that the decision on providing cash incentives for boosting the export of pharmaceuticals, shipbuilding and some other nontraditional products had a positive impact on the market.
The higher activities made market absolutely sellers’ one, with 232 issues closing high against only 56 lagging securities. The major gaining scrips were Aftab Auto, Delta Life, FAR Chemical, Generation Next and Bangas.
Fu Wang Food, National Polymer, Modern Dyeing, Saiham Textile and FBFIF were the day’s major losing issues.
Saif Power topped the turnover list followed by Ifad Auto, Beximco Pharma, FAR Chemical and AFC Agro. Chittagong Stock Exchange (CSE) also opened the week higher when its major CSCX closed 83.56 points up at 8500.25.
Out of the day’s 234 issues traded, 160 gained and 43 incurred losses.
The daily trade value rose to Taka 31 crore when the trade volume increased to 10 lakh shares.

Stocks begin week up despite technical glitch

Dhaka stocks opened week up yesterday despite a technical glitch that halted trading at Dhaka Stock Exchange (DSE) for one and half hours. The trading at DSE began at 12 noon instead of usual 10:30 am opening, reports BSS. The trading system of Dhaka Stock Exchange had a delayed start due to a technical issue, which appears to relate to the infrastructure and not the matching engine or the order management system, DSE authorities said in a press release. The authorities also said that the work was in progress to identify, isolate, and rectify the issue. All the three price indices of DSE, however, showed no negative response to the technical glitch. The broader DSEX gained over 65 points or 1.43 percent to close near 4600 points mark at 4596.81. Similarly, the blue-chip DS30 advanced by 24.71 percent to 1745.78 and the Shariah DSES rose by 15.72 percent to 1107.24. Market analysts attributed the rise to voluminous trading of banking, pharmaceuticals and textile shares at higher prices. The sectors along with engineering and telecom were the days most advancing sectors. Buyers became enthusiastic immediately after opening of the session. The lively activities continued till the end of the session, increasing trade value by 6.66 percent to Taka 430 crore and the trade volume by 9.72 percent to 12.36 crore shares. Investors might have reacted positively to the news of hanging of war criminals, said Lanka Bangla Securities Limited (LBSL). It also observed that the decision on providing cash incentives for boosting the export of pharmaceuticals, shipbuilding and some other nontraditional products had a positive impact on the market. The higher activities made market absolutely sellers one, with 232 issues closing high against only 56 lagging securities. The major gaining scrips were Aftab Auto, Delta Life, FAR Chemical, Generation Next and Bangas. Fu Wang Food, National Polymer, Modern Dyeing, Saiham Textile and FBFIF were the days major losing issues. Saif Power topped the turnover list followed by Ifad Auto, Beximco Pharma, FAR Chemical and AFC Agro. Chittagong Stock Exchange (CSE) also opened the week higher when its major CSCX closed 83.56 points up at 8500.25. Out of the days 234 issues traded, 160 gained and 43 incurred losses. The daily trade value rose to Taka 31 crore when the trade volume increased to 10 lakh shares.