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Stocks open higher after Eid break despite price fall in majority issues

Stocks open higher after Eid break despite price fall in majority issues

Bussiness Desk

Trading on the country’s two stock exchanges resumed on Sunday with an uptrend in key indices, as investors returned after a 10-day Eid holiday.

But, most listed issues ended in the red despite the index gains.

At the Dhaka Stock Exchange (DSE), the benchmark DSEX gained 14 points to close the day higher. The Shariah-based DSES remained unchanged, while the DS30 index, comprising blue-chip stocks, added 9 points.

Of the 392 issues traded during the session, 145 advanced, 179 declined, and 68 remained unchanged.

Despite the rise in the key index, the majority of companies under the 'A' and 'Z' categories saw price erosion. Among 214 firms in the ‘A’ category—generally considered well-performing dividend-paying companies—80 advanced, while 96 declined and 38 remained unchanged.

The turnover on the DSE stood at Tk 263 crore, up from Tk 224 crore recorded on 4 June, the last trading session before the Eid holidays.

In the block market, 17 companies accounted for transactions worth Tk 13.2 crore, with Lovello topping the list by trading shares worth Tk 6.7 crore.

Asiatic Laboratories Limited was the top gainer on the DSE, registering a 10 percent rise, while Phoenix Insurance saw the steepest decline, falling by 8 percent.

CSE Mirrors DSE Gains

The Chattogram Stock Exchange (CSE) also ended higher, with its overall index gaining 45 points during the day’s trading.

A total of 146 issues were traded on the CSE, of which 71 advanced, 53 declined and 22 remained unchanged.

The turnover at the port city bourse rose to Tk 10.83 crore from Tk 10.12 crore in the previous session.

As in Dhaka, Asiatic Laboratories led the gainers’ list with a 10 percent jump, while Midland Bank plunged by over 9 percent to become the worst performer on the CSE.

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