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Stock recovers despite technical glitch

WT24 Desk

Dhaka Stock Exchange (DSE) recovered on Wednesday despite a technical glitch that delayed the day’s session for an hour and 40 minutes. Share trading began at 12:10pm instead of usual 10:30am opening. Later on the day, the DSE authorities in a statement said that the trading system had a delayed start due to an isolated operational issue. The market resumed trading at 12.10 pm for a full four-hour trading session.

“The issue has been indentified, addressed and resolved. Procedures have been put into place to ensure that this incident does not recur. Dhaka Stock Exchange very much regrets any inconvenience caused to market participants”,DSE said. The broader price index, DSEX, was up by 30.15 points to 4821.62, with the DS30 and the DSES closing higher at 1868.13 and 1192.74.

The daily trade value was up by 12.58 percent to Taka 615.79 crore while the volume rose by 1.34 percent to 13.39 crore shares. Out of the traded 309 securities, 168 closed higher against 91 losing issues.  “Traders awaited reopening anxiously till 12:10 pm. After one hour and forty minutes of suspension, trading started with sharp rise in primary index straight above the 4800-mark supported by bank, engineering and selective stocks of other sectors”, said Lanka Bangla Securities Limited (LBSL).

Some value stocks reignited the rally as investors came back with buoyancy. The major advancing sectors were bank, engineering, energy and textile while the most lagging sectors were cement, miscellaneous and telecom. The major gainers were Islami Bank, Apex Tannery, Saiham Cotton, Emerald Oil and BSRM Steel. The most losing issues included Midas Finance, Gemini Sea, Prime Insurance,Sonargaon Textile and Renata.

UPGDCL topped the turnover list followed by RSRM Steel, SPCL, Al-Haj Tex,Squire Pharma, Emerald Oil and Islami Bank. Chittagong Stock Exchange (CSE) also rebounded on Wednesday, with its major CSCX index gaining 68.69 points to finish the day at 9018.03. Out of the traded 254 issues, 148 ended higher and 67 suffered loss when 1.10 crore shares worth Taka 105.47 crore, BSS reports.

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