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Stocks recover on mutual funds


WT24 Desk

Stock market on Monday showed sign of recovery when activities were higher around mutual funds and the securities those have strong fundamentals, BSS reports. At Dhaka Stock Exchange (DSE), 32 mutual funds closed higher against one declining and two static funds. The day’s top 10 gainers were also mutual funds, with PHPMF1, Popular1MF, VAMLBDMF1 and AIB1stMF taking the top five positions.

Analysts said the market also witnessed sort of volatility despite the higher activities around some selective stocks. But, there were also some fresh buying appetite evident at the later part of the day that kept market alive and helped the indices recover some loss.  The broader DSEX index of DSE finished the day 7.21 points up at 4502.40 which were 12.39 points down at 4495.18 at the first day of week.

The Shariah DSES increased by 1.26 points to 1105.79. But the blue-chip DS30 declined slightly by 2.43 points to 1757.13.  The daily trade value rose by over 30.0 percent to Taka 272.76 crore from Sunday’s Taka 209.55 crore. The volume was up accordingly by 36.49 percent to 10.36 crore shares against 7.59 crore shares changed hands in the past session.

Out of the day’s traded 323 securities, 187 securities traded higher, 89 lower and 47 at their previous prices. Chittagong Stock Exchange (CSE) also rebounded on Monday, with its CSCX recovering by 18.24 points to finish the day up at 8405.89. Out of the traded 241 securities, 141 closed higher, 70 lower and 30 unchanged.

The day’s top gainers included PHP First Mutual Fund, Popular First Mutual Fund, IFIC First Mutual Fund, VAML BD First Mutual Fund and ABIL First Mutual Fund. The major losers were Zeal Bangla, RD Food, Nitol Insurance, Re Public and Beacon Pharma.

The market leaders were Square Pharmaceuticals Limited, National Fertilizer Marketing Limited, Lafarge Surma Cement Limited, City bank and Linde Bangladesh.

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