Dhaka stocks swing back to the green

Bangla Tribune Desk
Published : 19:51, Dec 11, 2019 | Updated : 19:55, Dec 11, 2019

File photo shows a general view of the Dhaka Stock Exchange building.Country’s premier bourse, Dhaka Stock Exchange (DSE) bounced back to the green overcoming the bearish sessions demonstrated by choppy trading.
The optimistic investors’ buying appetite was mostly observed in the beginning of the trading session on Wednesday (Dec 11), which added 33 points to the prime index in the first hour.
However, the shaky investors’ selling pressure in the middle of the session wiped out the early gains. But, the last half an hour buoyancy in pharma, general insurance, fuel and power and engineering sector stocks helped the prime index to close five points higher.
The broad index, DSEX closed at 4512.39 points on Wednesday with a gain of 5.45 points or 0.12 percent.
Besides, the two selective indices, Blue Chip index, DSE30 and the Shariah index, DSES also went up by 3.77 points and 5.16 points to settle at 1552.15 points and 1017.46 points respectively.
Total turnover remained almost same over the last session as the investors adopted “wait and see” stance.
The general insurance sector dominated the turnover board and grabbed 15.6pc of the day’s turnover where Paramount insurance contributed highest 2.9 percent.
On the DSE trading floor, a total number of 98,505 trades were executed in Wednesday’s trading session with a trading volume of 109.47 million securities.
Losers took a strong lead over the gainers as out of 351 issues traded, 123 securities gained price while 165 declined and 63 remained unchanged.
The major sectors witnessed mixed performance Wednesday. Among the major sectors based on market capitalization – pharma (0.4pc), general insurance (1.4 pc), fuel and power (0.1pc) and engineering (0.1pc) sectors achieved price appreciation while food (-0.9pc), textile (-0.2pc) and paper (-2.9pc) sectors witnessed price correction, according to market operator International Leasing Securities.
It added the investors’ activity was mostly centered on general insurance (15.6pc), textile (14.0pc) and pharma (10.6pc) sectors.
The top 10 gainers were Paramount Insurance, Khulna Power, Northern Insurance, City General Insurance, Prime Insurance, Ifad Autos, Zaheen Spinning, Paramount Textile, New Line Clothing and Bangladesh National Insurance.
Paramount Insurance topped the turnover chart followed by Khulna Power, Paramount Textile, SK Trims, Progressive Life Insurance, City General Insurance, Beacon Pharma, Zaheen Spinning, Sinobangla Industries and New Line Clothing.
The top 10 losers were BIFC, BD Welding, Dulamia Cotton, BD Autocars, Meghna Cement, Sinobangla Industries, Greendelta Insurance, Ambee Pharma, Bengal Windsor and ISN.
On the other hand, the port city bourse, Chittagong Stock Exchange (CSE) also closed at green overcoming the bearish trend of the previous days.
CSCX and CASPI increased by 22.99 points and 36.98 points to stand at 8324.44 points and 13720.01 points respectively. At CSE, a total of 7,995,830 shares and mutual fund of 232 companies were traded. Of which, 91 issues advanced while 105 declined and 36 issues remained unchanged.