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STOCK-THURSDAY-BUDGET
Stocks maintain winning streak as budget unveiled
DHAKA, June 3, 2021 (BSS) – Stocks today also maintained winning streak as investors went on buying spree just ahead of unveiling the national budget.
Finance Minister AHM Mustafa Kamal today unveiled the national budget for the Fiscal Year (FY) 2021-2022.
DSEX, the benchmark index of the Dhaka Stock (DSE), went up by 34.42 points or 0.57 per cent to settle at 6,053. Two other indices also edged higher with the DSE 30 Index, comprising blue chips, advanced 8.25 points to finish at 2,203 and the DSE Shariah Index (DSES) rose 8.65 points to close at 1,293.
Turnover, a crucial indicator of the market, stood at Taka 21.82 billion, on the country’s premier bourse, which was nearly 5.0 per cent lower than the previous day’s mark of Taka 22.87 billion.
The market opened sharply higher and closed in the same direction without any major fluctuation riding on the positive expectations from the new budget, commented International Leasing Securities.
The stockbroker noted that buoyancy in insurance, engineering, textile, telecom, cement and pharma sectors helped the benchmark index to stay upbeat.
However, some investors booked some quick gain on bank and financial institution sectors, said the stockbroker. Low-cap general insurance sector remained center of investors’ attention as seven out of top 10 gainers were general insurers.
Most of the sectors posted gain with general insurance generated the highest return of 6.30 per cent, followed by engineering with 3.10 per cent, life insurance 2.0 per cent.
On the other hand, banking, financial institutions and jute sectors lost 0.7 per cent, 0.60 per cent and 0.03 per cent respectively.
Gainers took a modest lead over the losers, as out of 361 issues traded, 184 advanced, 111 declined and 66 remained unchanged on the DSE trading floor.
Beximco – the flagship company of Beximco Group- continued to dominate the turnover chart with shares worth about Tk 967 million changing hands, followed by Pioneer Insurance (Tk 582 million), NRB Commercial (Tk 475 million), LankaBangla Finance (Tk 427 million) and IFAD Autos (Tk 401 million).
AFC Agro Biotech was the day’s top gainer, posting 10 per cent gain while Aman Feed was the worst loser, losing 5.05 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI -gaining 100 points to settle at 17,543 and the Selective Categories Index – CSCX rising 61 points to close at 10,574.
Of the issues traded, 159 advanced, 105 declined and 31 issues remained unchanged on the CSE.
The port city’s bourse traded 21.43 million shares and mutual fund units with a turnover value of Taka 566 million.
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