Stocks edge up with increased turnover

Date: 2023-08-02 01:00:08
Stocks edge up with increased turnover
Stocks extended their winning streak for the second straight session on Wednesday as bargain hunters continued their buying interest on sector-specific stocks based on quarterly earnings declarations.FEThe market opened higher and the key index rose more than 11 points in the first two hours of trading but the later half eroded most of the early gains amid profit booking tendency among cautious investors.DSEX, the benchmark index of the DSE, finally went up nearly 4.23 points and settled at 6,343. DSEX added more than 18 points in the past two trading days.The DS30 Index, which consists of blue-chip companies, gained 0.28 points to 2,161 and the DSES index, which represents Shariah-based companies, rose 1.94 points to 1,375.Market operators said investors were active on both sides of the trading fence as bargain hunters favored taking positions in lucrative issues while the risk-averse investors opted for booking profit on quick-gaining stocks.The daily turnover rose 17 per cent to Tk 6.39 billion, up from Tk 5.46 billion in the previous day.JMI Hospital Requisite Manufacturing Company was the most-traded stock, with shares worth Tk 303 million changing hands, closely followed by Fu-Wang Food, Sea Pearl Beach Resorts, Bangladesh Shipping Corporation and Khan Brothers PP Woven Bag Industries.Of the 329 issues traded, 87 declined, 78 advanced and 164 issues remained unchanged on the DSE trading floor.CVO Petrochemical Refinery was the top gainer, posting a 9.88 per cent rise while Asia Insurance was the worst loser, losing 6.16 per cent.The Chittagong Stock Exchange (CSE) also ended marginally higher with the CSE All Share Price Index – CASPI – gaining 11 points to settle at 18,721 and the Selective Categories Index (CSCX) rising 6 points to 11,191.The port city’s bourse traded 2.03 million shares and mutual fund units with a turnover value of Tk 83 million.

Share this news