Stocks end marginally higher with volatility

Stocks edged marginally higher on Sunday with volatile trading as late hours sale pressure wiped off most of the early gains.

The market opened higher, gaining nearly 38 points in the mid-session, but late hour profit booking offset most of the early gains, eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,654.74, gaining 13.70 points or 0.29 per cent. The two other indices also closed positive zone. The DS30 index, comprising blue chips, advanced 5.28 points or 0.29 per cent to 1,777.51. The DSE Shariah Index (DSES) gained 1.25 points or 0.11 per cent to finish at 1,124.48.

Turnover on the DSE dropped to Tk 5.57 billion, which was 7.78 per cent lower compared to the previous session’s four months’ highest turnover of Tk 6.04 billion. The gainers took a modest lead over the losers as out of 321 issues traded, 178 closed higher, 105 lower and 38 remained unchanged on the DSE trading floor.

Quasem Drycells was the day’s top turnover chart with shares of Tk 255 million changing hands followed by BSRM Steels, Square Pharma, MI Cement and Delta Life Insurance. Hakkani Pulp & Paper was the day’s best performer, posting a rise of 9.95 per cent while Quasem Drycells was the day’s worst loser, plunging by 7.51 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also edged higher with its Selective Categories Index – CSCX – gaining 6.65 points to close at 8,658.38. Gainers beat losers 140 to 73, with 34 issues remaining unchanged on the port city bourse that traded 10.70 million shares and mutual fund units with a value of Tk 392 million. -FE