Stocks on the Dhaka Stock Exchange (DSE) ended the trading week with modest gains on Thursday, extending their recovery for a second consecutive session as bargain hunting helped lift share prices. However, turnover declined and trading remained volatile.
The benchmark DSEX index gained 11 points to close at 5,475, while turnover fell Tk71.63 crore to Tk533.20 crore from Tk604.83 crore in the previous session.
The market had suffered four consecutive sessions of losses before rebounding on Wednesday and extending gains on Thursday, as lower share prices attracted investors looking for bargain opportunities.
Despite the two-day recovery, the DSE ended the week lower overall. The DSEX lost about 56 points, or 1 per cent, from the previous Thursday’s close of 5,531.65, as gains in the final two sessions failed to offset losses during the first three trading days.
Investor confidence, however, remained fragile, with the benchmark index swinging between gains and losses throughout Thursday’s session.
At 10:42am, the DSEX was up 38 points at 5,501, but by 11:14am it had slipped to 5,484. The index recovered another 12 points by 11:57am before further fluctuations left it with only a modest gain at the close.
Of the 385 securities traded, 171 advanced, 150 declined and 64 remained unchanged, leaving gainers narrowly ahead of losers.
The DS30 index, comprising 30 blue-chip companies, rose eight points to 2,105, while the DSES Shariah index edged up 0.93 points to 1,086.
Alltex Industries led the gainers, rising 10 per cent to Tk25.30 from Tk23.
Two Beximco Group companies followed after news emerged on Wednesday that the Bangladesh Securities and Exchange Commission (BSEC) had approved the reconstitution of their boards a day earlier.
Beximco Limited posted the second-highest gain, climbing 9.75 per cent to Tk22.50 from Tk20.50.
Shinepukur Ceramics, another Beximco Group company, ranked third with a 9.63 per cent rise to Tk23.90.
Other gainers included BD Welding, BD Lamps, ICB Islamic Bank, National Bank, Tung Hai Knitting & Dyeing, Aziz Pipes and Meghna Condensed Milk.
Among the decliners, New Line Clothings suffered the steepest fall, shedding 5.88 per cent to Tk4.80.
Phoenix Finance 1st Mutual Fund followed with a 4.89 per cent decline to Tk13.60, while Orion Infusion dropped 4.71 per cent to Tk250.80, recording the third-largest loss.
Other decliners included Saif Power, Zeal Bangla Sugar Mills, Appollo Ispat, Shurwid Industries, Sunlife Insurance, BD Finance and IBBL 2nd Perpetual Mudaraba Bond.
