Stocks end week on positive note

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আপডেট : ০৪ সেপ্টেম্বর, ২০২৩
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Dhaka stocks gained on Thursday as investors diversified their focus towards sector-specific scrips that presented the potential for quick gains, market operators said.

DSEX, the key index of the Dhaka Stock Exchange, advanced by 6.35 points, or 0.10 per cent, and settled at 6,299.49 points on Thursday, the last trading session of the week, after gaining 2.14 points on Wednesday.

Market opeators said that most of the investors opted for a cautious approach, choosing to stay on the sidelines due to apprehension about the market’s outlook.

The turnover on the DSE increased slightly to Tk 456.18 crore on Thursday compared with that of Tk 413.40 crore in the previous trading session.

Market operators said that the heightened political activities ahead of the national election kept investors cautious on the trading floor.

Besides, the country’s economy has been struggling in recent months with various challenges, including high inflation, dollar crisis and energy crisis, which has kept the market muted, they said.

Out of the 317 issues traded on Thursday, 87 advanced, 67 declined and 163 remained unchanged.

EBL Securities in its daily market commentary said, ‘The capital bourse of the country recorded a mere flat session for consecutive days induced by the profit-booking selling pressure prevailing across the trading floor owing to concerns regarding the weakened market strength, while buoyant investors extended their buying appetite in sector-specific issues with quick gain potential.’

The core index remained afloat in green territory, withstanding the mild volatility throughout the session as buyers were slightly on the dominant side as they sought quick-gain opportunities in selective scrips, it said.

However, most investors preferred to remain watchful and stay on the sidelines due to concerns regarding the market outlook, it added.

On the sectoral front, food issues exerted the highest turnover, followed by miscellaneous and textile stocks.

The DSE Shariah index gained 1.03 points, or 0.07 per cent, to close at 1,372.52 points on Thursday.

The DS30 index increased by 2.02 points, or 0.09 per cent, to finish at 2,141.61 points on the day.

Daffodil Computers Ltd, Fu Wang Food Ltd, Apex Tannery Limited, Eastern Housing Limited, Generation Next Fashions Limited, Gemini Sea Food Ltd, Intech Limited, Eastern Insurance Company Ltd, Nitol Insurance Co Ltd and Rangpur Dairy & Food Products Ltd were the top 10 gainers considering their closing prices on the day.

Reliance Insurance Ltd, Olympic Accessories Limited, Jute Spinners Ltd, Central Pharmaceuticals Limited, Legacy Footwear Ltd, Union Capital Limited, MIDAS Financing Ltd, Aramit Cement Limited, Prime Islami Life Insurance Ltd and Libra Infusions Limited were the top 10 losers considering their closing prices on the day.

Fu Wang Food Ltd topped the turnover chart with its shares worth Tk 57.41 crore changing hands on the day.