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Stocks near upper support level on New Year’s trade

businessnews24bd.com

Trading at the country’s twin stock maStocksrkets opened on Sunday in bullish trend that continued to the end of the session, driving the broader price index to the upper support level.
All the indicators at Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) advanced at the opening session of the New Year 2017 though investors were cautious about the market direction.

The market finished 2016 in a steady rise of share prices when the broader index at DSE reached 25-month high. The upward trend continued on the opening day of 2017 and the general index closed at 5083.89, nearing the next upper support level of 5100 points.

The blue-chip DS30 and the Shariah DSES also finished the session in green, but with marginal rise. The two indices finished at 1821.88 and 1200.53 respectively.

The daily transactions, however, fell slightly on cautious trading. The trade volume, which hit a record nearing 50 crore last week, came down to 38.81 crore shares. Accordingly, the trade value fell to Taka 993.69 crore from Taka 1070.58 crore of the last session of the immediate past year.

Despite the fall in daily turnovers, share prices were up across the board. Out of the day’s 326 securities traded, 243 advanced when only 60 finished lower.

CSE was also bullish at the opening of the New Year’s trade. The general CASPI index of the bourse gained 158.44 points to close at 15636.11. Out of the traded 260 issues, 206 gained and 45 incurred losses.

Some 2.64 crore shares changed hands at the bourse for Taka 62.11 crore.

Large-cap and newly listed securities and mutual funds were among the major focuses of the investors when PF1stMF, Aramit Cement, RASM Steel, Fine Foods and GSP Finance were the top five gainers.

Zeal Bangla, Prime Life, Shympur Sugar, Standard Insurance and CMC Kamal were the day’s most losing securities.

The top five traded issues included Ifad Autos, NBL, RSRM Steel, BBS and Singer Bd.

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