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Stocks recover on brisk trading

 

WT24 Desk

Stocks recovered on higher trade of a pharmaceutical company that made debut at the country’s two stock exchanges on Tuesday, BSS reports.  Acme Laboratories Limited entered the stock market on the day while getting strong response from the investors at both Dhaka and Chittagong stock exchanges.

The country’s oldest pharmaceutical company made the debut as the 28th listed companies in the pharmaceutical sector. The new issue closed the day nearly 41.0 percent higher when over one crore shares of this company changed hands in a single session. The high volume and price rise in this issue drove the major indices at the two bourses to recover the loss and close the day in green though the recovery was marginal.

The DSEX of Dhaka Stock Exchange (DSE) closed the session only 2 points up at 4412.51 when the blue-chip DS30 and Shariah DSES inched up at 1729.64 and 1084.43 respectively.  As the market activities were moderately high, the daily trade value went up to Taka 471 crore from Tuesday’s Taka 307 crore and the daily trade volume rose accordingly to 9.82 crore shares from 9.32 crore shares of the previous sessions.

The general CASPI and selective CSCX index of Chittagong Stock Exchange (CSE) closed the day marginally lower at 13568.43, but all other indices at the bourse ended up. The trade value was Taka 39.26 crore for 84.52 lakh shares.

The market at DSE and CSE, however, remained highly in favour of the buyers, with most of the issues traded closed lower. At DSE, out of the day’s 264 traded issues, 179 issues incurred loss against only 58 gaining securities. Similarly, 146 were down at CSE when 50 finished up.

The major gaining issues were Dhaka Insurance, Sonar Bangla Insurance, Brac Bank, Publai Bank, Olympic Industries. The major losers were FAS Finance, ISN Limited, NBL1stMF, AIBL1stMF and Modern Dyeing.   Acme Laboratories was the turnover leader followed by SPCL, Lafarge Surma, MJLBD and Beximco Pharma.

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