Stocks end slightly higher

Dhaka stocks ended slightly higher yesterday, driven by sharp gain in the share prices of some state-owned and small market capitalisation companies.

Many investors rushed for the shares of government-run companies on speculation that those will see a business momentum under the newly elected government, market operators said.

“It was nothing but a high speculation,” said a member of Dhaka Stock Exchange.

The benchmark index of the premier bourse, DSE General Index, rose 6.16 points, or 0.23 percent to 2,671.06 points. The DSE All Share Price Index also gained 3.53 points, or 0.16 percent to 2,208.28 points.

In the opening 20 minutes or so, the market lost almost 10 points. Then it gained about 18 points in the next 20 to 25 minutes.

In the next 30 minutes the whole gain of the day diminished completely. For the next 75 minutes the market stayed within a band of 5 points.

Then in the following 30 minutes the market lost 6 to 7 points. At the fag end of the session, the market witnessed a rapid rise in the index.

Most securities traded up on the DSE. Of the 254 traded issues, 188 advanced, 61 declined and five remained unchanged.

A total of 2,36,47,560 shares worth Tk 244.62 crore changed hands on the premier bourse.

Beximco Pharma topped the turnover leaders on the DSE with 9,59,850 traded shares worth Tk 16.07 crore. The other turnover leaders were Shinepukur Ceramics, Beximco, Titas Gas, Apex Tannery, Summit Power, Fu-Wang Foods, ACI Formulations, Aftab Automobiles and Quasem Drycells.

Chittagong stocks also posted a slight gain. The CSE Selective Categories Index rose 14.53 points, or 0.27 percent to 5,357.22 points. The CSE All Share Price Index also increased 13.34 points, or 0.16 percent to 8,224.27 points.

A total of 40,88,475 shares worth Tk 33.12 crore changed hands on the Chittagong Stock Exchange. Of the 144 traded scrips on the port city bourse, 86 advanced, 52 declined and six remain unchanged.

Shinepukur Ceramics topped the turnover leaders on the CSE with 2,16,900 traded shares worth Tk 2.48 crore. The other turnover leaders were Beximco, Beximco Pharma, Grameen Mutual Fund One: Scheme Two, BSRM Steels, Apex Tannery, Titas Gas, Dutch-Bangla Bank, Jamuna Oil and AIC Formulations.