Stocks make a comeback
The country's currency markets bounced back yesterday after crashing for two days, turning many stocks lucrative.
The DSEX, the benchmark index of the DSE, went up 62 points, or 1.16 %, to 5,412 yesterday. In the last two times of trade, it dropped 166 tips, or by more than 3 per cent.
As much well-performing companies' stocks also fell within the last two days, they can now be looked at lucrative, said stock investor Sohel Rana.
Though investors remain fearful about the rise of infections of the coronavirus, they continued to buy shares, he said.
Nowadays support from institutional investors is needed for the index to keep to rise, Rana added. Meanwhile, NRB Commercial Lender made its debut on the bourse yesterday, when it soared 32 per cent.
Turnover, an essential indicator of the marketplace, increased 12 per cent to Tk 693 crore.
Rumours have been going around that the marketplace could possibly be shut down within effort to contain the pathogen, said a share broker.
Yesterday the currency markets regulator issued a press release informing that the marketplace would remain start if the banking institutions continue operations.
The spread of the pathogen may hamper business of outlined companies, said the broker. "So, shareholders were careful in buying shares in the last days," he said.
Because so many stock prices have been downed for that fear, investors now are ordering stocks and shares, the broker added.
In the bourse, 188 stocks rose, 56 declined and 108 remained unchanged.
NRB Commercial Lender topped the gainers' list, rising 32 per cent, followed by First Financing, Intech, Premier Lender and Asia Pacific General Insurance Company.
Beximco topped the turnover list with trade value Tk 76 crore followed by Premier Bank, NRB Professional Lender, Robi Axiata and Beximco Pharmaceuticals.
GBB Electricity shed the most, dropping 4.31 per cent, followed by Jute Spinners, ICB AMCL First Agrani Bank Mutual Fund, Libra Infusions and Shyampur Sugar Mills.
The port metropolis bourse also rose yesterday.
The CASPI, the overall index of the Chittagong STOCK MARKET (CSE), gained 191 points, or 1.23 %, to attain 15,677.
Among 217 stocks and shares to witness trade, 122 rose, 49 dropped and 46 remained the same.
