The actions win for the 3rd day
Dhaka shares advanced for the third day on Monday as part of investors continued to buy shares at lower prices after a prolonged downtrend in the market while many others maintained a cautious stance.
DSEX, the key index of the Dhaka Stock Exchange, gained 0.35%, or 20.08 points, to close at 5,604.38 points on Monday. The DSEX has added 115.78 points over the past three sessions.
After a positive open in Monday’s session, the benchmark fell but quickly recovered to end the session with a marginal gain as a section of investors continued to buy stocks in a dull climate. optimism, said market operators.
The market took a bullish move after falling to 5,317.71 points on February 23 as some institutional investors showed up to pump money into the market, they said.
In addition, the stock prices of many companies have fallen to a lucrative level which has attracted a group of investors to the market, they said.
They said the focus of investors was mostly on a small number of large-cap companies, casting doubt on the sustainability of the gain.
Among the leading companies, the stock prices of Grameenphone, Beximco Pharmaceuticals, LankaBangla Finance and LafargeHolcim Bangladesh soared that day.
Stock prices of C&A Textiles, Emerald Oil and Familytex Limited continued to advance after the Bangladesh Securities and Exchange Commission restructured the boards of fundamentally weak companies to improve their operations.
Of the 359 scripts traded on the DSE on Monday, 129 advanced, 107 declined and 111 remained unchanged.
DSE revenue fell to Tk 721.51 crore on Monday from Tk’s 876.75 crore in the previous session.
Many investors remained concerned as the stock prices of around 80 companies were stuck at their price floors.
On March 19, 2020, the BSEC introduced the floor price system to prevent company stock prices from falling below a certain level amid the COVID-19 outbreak.
The market, which had gained around 1,045 points in seven weeks to Jan. 14, retreated after the BSEC capped the margin lending rate at 12%.
In addition, the approval of initial public offerings from a number of companies within a short period of time and repeated policy changes by the regulator weighed on the market, market operators said.
Trading in the shares of Lub-rref (Bangladesh) Limited will begin today.
Average share prices of nonbank financial institutions, miscellaneous sectors, energy and engineering rose 1.82 percent, 1.7 percent, 1.56 percent and 0.95 percent, respectively. hundred.
DS30, a composition of 30 large-cap companies, rose 0.55%, or 11.94 points, to close at 2,168 points on the day.
The DSES Sharia Index added 0.69%, or 8.73 points, to 1,265.2 points.
BATBC led the turn-around table with shares worth Tk 66.13 crore changing hands on Monday.
Summit Power, LankaBangla Finance, LafargeHolcim Bangladesh, BD Finance, Beximco Pharmaceuticals, Orion Pharmaceuticals, Grameenphone, GBB Power and Square Pharmaceuticals were the other top revenue leaders for the day.