Dhaka stocks advance for second day

Both bourses in the country advanced on Wednesday as the market begins to show signs of recovery.

All indices along with the turnover on the Dhaka Stock Exchange increased on the day, led mostly by IT. The sector contributed over 21 percent of the turnover while 9 out of 10 of its companies gained on the day.

Although the index and trading increased on the day, the number of issues with unchanged prices remained higher than gainers or losers.

The share and unit prices of these companies, which remain unchanged, are stuck in the floor price (the lowest limit of price reduction). Investors who have shares of these companies stuck at the floor price are not able to sell them due to the lack of buyers.

Trading in the Dhaka stock started with the increase in the share prices of most of the companies. As a result, DSEX, the benchmark index, rose by 8 points compared to the previous day.

This upward trend, which appeared at the beginning of the transaction, continued till the end.

At the end of the day’s trade, the DSEX, the broad index of the premier bourse, advanced 23.48 points or 0.37 per cent to settle at 6,235 as against 6,212 points in the previous trading session.

DSES, the Shariah-based index, gained 10.75 points or 0.79 per cent to close at 1,370.

Among other indices, the DS30, the blue-chip index, rose 13.64 points or 0.62 per cent to close at 2,214.

Meanwhile, the Dhaka bourse observed an increase in participation while the total turnover rose by 34.5 percent and stood at Tk 449 crore as against Tk 334 crore in the previous session.

Of the issues traded, 51 advanced, 26 declined, and 227 did not see any price movement.

Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also settled on green terrain. The All Share Price Index (CASPI) increased 89 points to 18408 and securities worth Tk 10.02 crore were traded on the day.