2-hour technical glitch stalls trading at DSE

2-hour technical glitch stalls trading at DSE

Bigstock

Stocks extend rally ahead of Eid holidays

Bourses witnessed sharp gains on Sunday during the extended five-and-a-half-hour session in efforts to cover up the lost couple of trading hours due to technical glitch at the Dhaka Stock Exchange.

Investors were mostly engaged in a buying spree in the second last session before the Eid vacation that has propped up most of the major sectoral issues in the green zone, said the Daily Market Review of EBL Securities Ltd.

The key index of Dhaka Stock Exchange, DSEX closed at 6,365.1 points on Sunday after gaining 0.92% during the session while CASPI advanced 0.33% to close at 18379.6 points.

DSE Shariah based index DSES advanced 1.47% to end at 1,379.4 points, while blue-chip index, DS30 went up by 1.37% to close at 2,306 points.

Participation in the Dhaka Stock Exchange stood at Tk1,793 crore during the session, which was Tk1,790 crore in the previous session.

The engineering sector contributed 14.3% of the total turnover while mutual funds, pharmaceutical and textile sectors contributed 12.9%, 9.9% and 9.7% respectively, according to stockbangladesh.com.

A total of 86 transactions on 44 stocks worth Tk25.2 crore were executed in the block market of Dhaka Stock Exchange, showed Detailed DSE Market Statistics.

Bangladesh Export Import Company Ltd secured the leadership position on the top turnover chart with a turnover of Tk152.6 crore with its share price closing at Tk97.1 per share. The stock was followed by SS Steel Ltd with Tk50.8 crore, Fu-Wang Ceramic Industries Ltd with Tk32.8 crore, SAIF Powertec Ltd with Tk32.3 crore and Shinepukur Ceramics Ltd with Tk27.9 crore.

Miracle Industries Ltd secured the highest gain of 9.9% during the session. The stock was followed by Legacy Footwear Ltd with 9.9%, Index Agro Industries Ltd with 9.9%, Samata Leather Complex Ltd with 9.9% and Aftab Automobiles Ltd with 9.8%.

Tamijuddin Textile Mills Limited turned out the worst loser with its price declining by -9.9%. The stock was followed by Fareast Finance & Investment Ltd with -9%, Familytex with -8.5%, Tung Hai Knitting & Dyeing Ltd with -7.9% and Rupali Bank Ltd with -7.1%.

Among the traded issues 210 gained, 150 declined and 13 remained unchanged during the session in Dhaka Stock Exchange while 170 gained, 137 declined and 13 remained unchanged in Chittagong Stock Exchange.

The Dhaka Stock Exchange currently has a market capitalization of Tk532,312 crore with the benchmark index, DSEX up by 17.83% since the beginning of this year.

DSEX crosses 6,100-mark after 41 months

The benchmark index of the Dhaka Stock Exchange (DSE) crossed the 6,100-point mark on Monday.

DSEX, the prime index of the DSE, rose 56 points or 0.92 per cent to settle at 6,125. It was the highest level of DSEX in nearly 41 months since January 30, 2018, when DSEX was 6,127.

The market capitalisation of the DSE also soared to an all-time high at Tk 5,130 billion on Monday, snapping the previous high of Tk 5,099 billion recorded a week earlier on June 10.

Turnover, a crucial indicator of the market, jumped to Tk 20.43 billion on the country’s premier bourse, in a further increase by 11 per cent over the previous day’s tally of Tk 18.35 billion.

Market experts said investors welcomed the floor price withdrawal decision, describing it as a time-befitting move.

The country’s stock market returned to the standard price movement system, as securities regulator lifted floor prices of all listed securities, set earlier to contain abnormal price fall amid the Covid-19 pandemic.

“The floor price disrupts the normal trading activities. So, it has been reasonable to remove the floor price,” said a leading broker.

Budgetary measures, lower returns on the money market and regulatory reforms also encouraged investors to park fresh funds on stocks, he said.

Gainers took a strong lead over the losers, as out of 372 issues traded, 224 advanced, 119 declined, 29 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- topped the turnover chart with shares worth Tk 1.12 billion changing hands, followed by Malek Spinning (Tk 638 million), National Feed Mills (Tk 607 million), Makson Spinning (Tk 574 million) and Fortune Shoes (Tk 505 million).

Alif Industries was the day’s top gainer, posting a 9.91 per cent gain, while Sea Pearl Beach was the worst loser for the two consecutive days, losing further by 9.89 per cent.

A total of 291,726 trades were executed in the day’s trading session with a trading volume of 634.02 million shares and mutual fund units.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –soaring 178 points to settle at 17,762 and the Selective Categories Index – CSCX rising 106 points to close at 10,689.

Of the issues traded, 195 advanced, 96 declined, 18 remained unchanged on the CSE.

The port city’s bourse traded 29.54 million shares and mutual fund units with a turnover value of Tk 794 million.

[email protected]

DSEX drops 100 points over lockdown fears

The key index of the Dhaka Stock Exchange (DSE) dropped more than 100 points on Sunday.

The DSEX dropped as worried investors dumped their holdings ahead of the strict lockdown due to the increasing trend of coronavirus infections.

The market fell sharply at the opening and continued the downward trend till the end of the session.

The prime index of the Dhaka Stock Exchange (DSE) plunged 100.10 points or 1.64 per cent to settle at 5,992. DSEX dipped below the 6000-mark after three weeks.

The government has announced to enforce the lockdown from July 1 (Thursday) instead of Monday (June 28) due to June closing.

Market analysts said the pandemic situation is deteriorating as the Covid-19 cases are rising alarmingly every day in the country. It took a heavy toll on the stock market.

Meanwhile, trading at the stock market will continue if banking activities remain operational, the securities regulator said.

The daily trade turnover stood at Tk 17.40 billion on the DSE, which was 9.0 per cent higher than the previous day’s one month’s lowest turnover of Tk 15.97 billion.

Two other indices also fell sharply with the DSE 30 Index, comprising blue chips, lost 30.88 points to finish at 2,168 and the DSE Shariah Index (DSES) shed 14.43 points to close at 1,287.

Losers took a strong lead over the gainers, as out of 372 issues traded, 306 declined, 54 advanced and 12 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- dominated the turnover chart with shares worth about Tk 1.03 billion changing hands, closely followed by Dutch-Bangla Bank (Tk 389 million), Malek Spinning Mills (Tk 384 million), Kattali Textile (Tk 378 million) and Makson Spinning Mills (Tk 358 million).

Matin Spinning Mills was the day’s top gainer, rising 9.83 per cent, while Republic Insurance was the worst loser, shedding 12.06 per cent following its price adjustment after the record date.

A total of 275,884 trades were executed in the day’s trading session with a trading volume of 595.65 million shares and mutual fund units.

The market cap of DSE also fell to Tk 5,042 billion on Sunday, down from Tk 5,106 billion in the previous session.

The Chittagong Stock Exchange (CSE) also plunged, with the CSE All Share Price Index (CASPI) slumping by 297 points to settle at 17,359 and the Selective Categories Index (CSCX) plunging by 181 points to close at 10,441.

Of the issues traded, 241 declined, 58 advanced and 12 remained unchanged on the CSE.

The port city’s bourse traded 49.34 million shares and mutual fund units with a turnover value of Tk 2.14 billion.

[email protected]