Dhaka stocks rebound

The broad index of Dhaka Stock Exchange (DSE) rebounded yesterday after plunging on the preceding day.

The DSEX, the major index of the country's premier bourse, went up 21.65 points, or 0.41 percent, from that on the preceding day to close at 5,241.84.

The DSES, which comprises Shariah-based firms, also gained 6.7 points, or 0.59 percent, to reach 1,149.55.

The DS30, the index that represents the best blue-chip stocks, rose by 9.95 points, or 0.53 percent, to finally stand at 1,877.94.

In its daily market update, UCB Stock Brokerage said turnover, meaning the total value of shares changing hands on a day, giving an indication of the amount of trading activity, increased by 9.31 percent to reach Tk 524 crore.

The turnover of block trades, meaning large, privately negotiated securities transactions, however, amounted to Tk 99.86 crore, representing 19 percent of the day's total turnover.

The food and allied sector dominated the market's turnover, accounting for 18.97 percent of the total. With a rise of 4.8 percent, Unilever Consumer Care was the most-traded share with a turnover of Tk 53.7 crore.

Rupali Life Insurance Company, Beach Hatchery, and BRAC Bank were also on the list of those witnessing an increase in turnover, with a rise of 6.04 percent, 0.52 percent and 1.17 percent respectively.

Of the issues that changed hands at the DSE, 171 edged higher, 161 declined while 61 showcased no movement.

Non-bank financial institutions (NBFI), life insurance and mutual fund sectors closed in the positive while jute, tannery and engineering in the negative, said the brokerage.

NBFIs booked the highest gain of 3.89 percent followed by food and allied (0.80 percent), pharmaceuticals (0.74 percent), bank (0.30 percent), telecommunication (0.29 percent), fuel and power (0.23 percent) and engineering (1.41 percent).

It said companies which account for large amounts in market capitalisation posted a positive performance.

Market capitalisation refers to the value of a company calculated by multiplying the total number of shares by the present share price.

In another daily market update, Shanta Securities said the market was driven by positive changes in the market capitalisation of life insurance, financial institutions, and bank scrips.

Meanwhile, market capitalisation of travel and leisure, paper and printing, and tannery industries scrips underwent negative changes, it said.

Chittagong Stock Exchange also saw a similar trend, with its all-share price index gaining 111.02 points, 0.75 percent, to settle at 14,837.17.