Stocks return to black

The Dhaka Stock Exchange posted a four-day decline yesterday, on ceramics, travel, leisure, services and property stocks.

The DSEX, the benchmark index of Bangladesh’s premier stock exchange, added 13.12 points, or 0.20%, to close at 6,374.

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The DSES index, which includes Sharia-based listed companies, rose 0.14% to 1,389.59 and the DS30 index, which represents the best performing stocks on the exchange, gained 0.04% at 2,301.92.

Revenue was Tk 943 crore, up 7.89% from Tk 874 crore a day ago. Of the stocks traded that day, 175 rose, 161 fell and 46 were unchanged.

“Bargain hunters have shown interest in buying sector-specific stocks at lucrative prices as the market has lost 119 points since the unveiling of the budget for the next fiscal year. Some of the stocks have caught the eye of investors due to fiscal incentives,” International Leasing Securities Ltd said in its daily market review.

The values ​​of ceramics, travel, leisure, services and real estate have largely increased, while the shares of general insurance, jute and food have declined.

Among individual companies, Meghna Insurance and RAK Ceramics jointly topped the list of winners with a gain of 10%.

Hakkani Pulp and Paper Mills, KDS Accessories, Legacy Footwear, Fu-Wang Ceramic Industries and Coppertech Industries also posted strong gains.

Bangladesh Industrial Finance Company suffered the biggest decline at 5.88%. Bangladesh General Insurance Company lost 5.48% and Purabi General Insurance Company lost 5.33%.

Beximco Ltd was the most traded stock on the day with its shares worth Tk 65 crore traded. RAK Ceramics, Shinepukur Ceramics, MI Hospital Requisite Manufacturing, IPDC Finance and Bangladesh Shipping Corporation also witnessed strong trade.

The Chittagong Stock Exchange also rose.

CASPI, the port city’s main stock index, jumped 61.97 points, or 0.33%, to close the day at 18,772.

Of the issues, 131 advanced, 128 declined and 39 saw no price movement.

Revenue, however, fell over 23% to Tk 42.6 crore. It was 55.54 crore Tk on Tuesday.

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