Stocks edge higher with volatility

Stocks edged marginally higher on Sunday for the second consecutive day with choppy trading as investors relocate their portfolios ahead of Eid vacation and third quarter earnings declaration.

DSEX, the prime index of the Dhaka Stock Exchange, (DSE) went up by 11.23 points or 0.23 per cent to 4,830.68, after witnessing volatility. The DS30 index, comprising blue chips, gained 2.67 points or 0.14 per cent to 1,850.79.

However, the DSE Shariah Index (DSES) fell 0.78 points or 0.06 per cent to end at 1,185.89. Turnover dropped to Tk4.18 billion, which was 18.68 per cent lower than the previous day’s one month highest turnover of Tk5.14 billion. The losers, however, took a  marginal lead over the gainers as out of issues traded 316 issues traded, 145 closed lower, 133 higher and 38 remained unchanged on the DSE trading floor.

IFAD Autos dominated the turnover chart with shares of Tk183.52 million changing hands followed by Islami Bank, BSRM Steels, Beximco Pharma and United Power generation & Distribution Company. Power Grid Company was the day’s best performer, posting a rise of 6.52 per cent while Saiham Textile was the day’s worst loser, plunging by 9.60 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also edged higher with its Selective Categories Index CSCX gained 25.95 points to end at 9,12.42. Gainers beat losers 116 to 109, with 18 issues remained unchanged on the port city bourse that traded 11.27 million shares and mutual fund units with a value of Tk395 million. -FE