Stocks return to the black

The Daily Star  June 16, 2021
Star Business Report

The stock market bounced back yesterday as investors came out from the profit booking tendency that prevailed for the last two days.

The DSEX, the benchmark index of the Dhaka Stock Exchange, rose eight points, or 0.14 per cent to 6,022.

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Turnover, an important indicator of the stock market, rose 16 per cent to Tk 2,032 crore.

Stock investors are pouring money into stocks which fell in the last two days, said a merchant banker.

This is a good sign for the market, he said, adding that the environment becomes vibrant when people invest in a falling market.

The buying pressure boosts the confidence of general investors, he added.

At the DSE, 152 stocks advanced, 195 declined, and 25 remained unchanged.

Salvo Chemicals topped the gainers’ list, rising 10 per cent, followed by Energypac Power Generation, Associated Oxygen, S Alam Cold Rolled Steels, and Reliance Insurance.

Beximco Ltd became the top traded stock with shares worth Tk 96 crore changing hands, followed by Pioneer Insurance, National Polymer, Pragati Insurance and Lub-rref.

Intech Ltd fell the most, dropping 5.92 per cent, followed by Bangladesh National Insurance, NRB Commercial Bank, Union Capital and Delta Life Insurance.

However, the Chittagong Stock Exchange experienced a fall. The CASPI, the general index of port city bourse, fell 1 point to 17,464.

Among the 314 traded stocks, 118 rose, 167 dropped and 29 remained the same.

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