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Stock markets bounce back

WT24 Desk

Stock market on Monday showed strong signs of recovery, with transaction and price of shares rising modestly on active buying. The broader index at Dhaka Stock Exchange (DSE) neared 4800 points again as it ended the session 19.26 points up at 4791.91, agencies report. .

The blue-chip DS30 and Shariah DSES also eased up at 1829.46 and 1177.87 respectively when the daily trade value rose to Taka 473.79 crore from Sunday’s Taka 434 crore. The volume was up accordingly at 14.09 crore shares against 12.67 crore shares changed hands in the past session.

Out of the day’s traded 315 securities, 147 securities traded higher, 124 lower and 44 at their previous prices.  “Market advanced in a small stride with modest activities as positive news hit broad regulatory and economic environment,” said IDLC Investment Limited. It said the impact of the special tribunal for stock market scam is feared to be negative in the short term, but it is expected to greatly benefit the market in the days ahead.

Referring to the financial reporting bill, passed in the parliament, IDLC Investment further said that the bill would also help enhance accountability in the market. Supported by this positive development, market was relatively strong on higher activities around the blue-chip securities. Some buyers booked the high demand scrips for better positioning. As a result, 19 out of 30 blue-chip issues ended the session positive.

The day’s top gainers included Aramit Cement, United Air, Monno Ceramic, MBL1stMF and Islami Bank. The major losers were Modern Dyeing, Reliance1, Aman Feed, Reliance Insurance and Sino Bangla. The market leader was Aman Feed followed by Squire Pharma, United Air, UPGDCL and Emerald Oil. Chittagong Stock Exchange (CSE) also rebounded on Monday, with its CSCX recovering by 56.20 points to finish the day up at 8941.39.

Out of the traded 244 securities, 140 closed higher, 86 lower and 18 unchanged. The daily transaction rose to 1.24 crore shares worth Taka 37.82 crore.

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