Stocks start a new week in green

TBS Report

September 18, 2022, 9:45 p.m.

Last modification: September 18, 2022, 10:54 p.m.

Infographic: TBS

“>

Infographic: TBS

Indexes from both stock exchanges rose on Sunday on the back of last month’s lower import bill and higher apparel exports in July and August, which helped boost investor confidence.

DSEX, the Dhaka Stock Exchange (DSE) broad index, rose 20 points or 0.3% to close at 6,535.

Imports fell to $5.38 billion in August from $6.79 billion a month ago, on lower purchases of fuel and equipment, according to the Bangladesh Bank.

Amid global market uncertainties, the country’s apparel exports have shown growth in the first two months of the current fiscal year.

The two updates offered respite for investors worried about the exchange rate and cautious in the stock market, analysts said.

DSE indices managed to stay afloat in the first session of the week with increased participation as bargain hunters continued their buying appetite for sector-specific stocks while others were engaged in a partial liquidation of their holdings, EBL Securities wrote in its daily market commentary. Sunday.

The major index of the first exchange suffered a correction last week after four consecutive weeks of victories.

The market opened on a positive note on Sunday, with the DSEX adding more than 50 points in the first fifteen minutes of the session.

However, subsequent selling pressures on major scrips dampened the rise in the value of the index, while price appreciation of some sector-specific large-cap stocks kept the index afloat throughout. of the session.

DS30, the Dhaka Stock Exchange’s premier index, closed up 0.7% at 2,364.

Meanwhile, DSE observed a noticeable increase in participation while total revenue increased by 46% to Tk 1,814 crore.

At the sector level, pharmaceuticals and chemicals, miscellaneous and engineering contributed respectively 28.2%, 14.8% and 7.4% to the DSE’s total daily turnover.

Travel, IT and General Insurance led the gaining sectors, while Non-Banking Financial Institutions, Jute and Paper suffered the biggest corrections.

Of the 371 certificates traded at the DSE, 109 advanced, 140 declined and 122 remained unchanged on Sunday.

The port city Chittagong Stock Exchange also settled into green territory with a 118% jump in daily turnover to Tk 40 crore.

About Joel Simmons

Check Also

Community Liability Funding for Struggling Real Estate Developers

An almost without exception, property developers plagued by the prospect of bankruptcy find themselves stretched …