Stocks break three days’ losing streak
19 August 2015, Nirapad News: Stock market gained on Tuesday, breaking the three-day losing streak that began last week. The price indices recovered on rally in the large cap stocks.
The DSEX gained 41.26 points to cross the upper level of psychological barrier and closed at 4809.27. The blue-chip DS30 and Shariah DSES followed the broader index to finish the day at 1841.86 and 1184.32 respectively.
The daily trade value was down by 13.42 percent to Taka 528.58 crore when the volume fell by 8.06 percent to 14.53 crore shares. The price indices closed in green backed by higher activities in the large cap securities.
Shares of all the major multinational companies (MNCs) advanced while banking and financial stocks showed strength on the news of improved asset quality. Bangladesh Bank’s disclosure about new record of foreign currency reserves had a positive impact among the investors.
The market, however, witnessed volatility as 133 securities closed lower when 143 gained and 42 remained static among 318 issues traded. Price fall in IT and textile sectors was the major cause of volatility on the market.
Apex Tannery, Apex Food, Atlas Bangladesh, Northern Jute and Prime Textile were the day’s major advancing securities when the major losers were Gemini Sea Food, FBFIF, Midas Finance, LR Global MF1 and PF1st MF.
Large scale selling kept Islami Bank on top of the turnover list followed by Family Textile, Square Pharmaceuticals, Apex Tannery and SPCL.
Chittagong Stock Exchange (CSE) gained on Tuesday, with its major CSCX index recovering over 48 points to close at 8963.51.
On the day, 124 securities closed lower against 33 gaining issues when the daily trade value was Taka 47.34 crore for 1.19 crore shares. The index gained due to the large-cap securities those closed moderately higher.