Stocks have bounced back strongly to rally on fourth straight day on Monday as investors found shares lucrative amid the government’s market supportive steps. Market analysts said the country’s stocks have turned back from declining trend as the government has recently taken some good measures to prepare the ground quite well to bring back investors’ confidence in the market.
They said most of the investors were buying large cap securities taking the advantage of low prices. However, the prime index of DSE increased almost 1.19 percent or 52.17 points to close at 4,434.24 points. On Sunday, the core index of DSE increased almost 5.59 percent or 232.23 points to close at 4,382.06 points, which was the highest level of DSEX since January 2013.
Besides, the comprising blue chips index (DS30) went up by 27.63 points or 1.85 percent to 1514.88 on Monday while the DSE Shariah Index (DSES) rose by 17.36 points or 1.74 percent to close at 1014.95 points. On the other hand, the total turnover on the DSE reached Tk 4,947.98 million, over 20 percent higher from previous day’s value of Tk 4,113.66 million.
The market cap has increased to Tk 3,391.16 billion on Monday against Tk 3,345.56 billion of the previous day. The losers beat the gainers as out of 351 issues traded, 161 ended lower, 149 closed higher and 44 remained unchanged on the DSE floor. GP dominated the DSE floor and topped the turnover chart with 8.83 million shares worth Tk 244 million changing hands.
It was followed by SS Steel (Tk 238 million), LHBL (Tk 235 million), Square Pharma (Tk 234 million) and Brac Bank (Tk 122 million). Gemini Sea food was the best performer, posting a gain of 14.8 percent to Tk 163 while SS Steel was the worst loser, losing 9.95 percent to Tk 13.40.
Meanwhile, the port city bourse, the Chittagong Stock Exchange (CSE) also saw positive trend on Monday with its selective category index (CSCX) gaining 123.23 points or 1.53 percent to 8,171.26 points. Besides, CSE All Share Price Index (CASPI) also rose by 201.76 points or 1.51 percent to settle at 13,479.63 points on the day.
At the CSE, total 253 issues were traded. Among them, 132 closed higher, 96 ended lower and 25 remained unchanged. However, the number of shares transacted on the floor of the CSE was 27.89 million and the total turnover in value was almost Tk 739.78 million.