Markets Rebound Sharply After Decline
Graphics: Agamir Somoy
Bangladesh’s stock markets returned to a strong upward trend after just one trading day, recovering from a significant broad-based decline. The rebound was largely driven by strong gains in insurance sector stocks.
The positive momentum in the insurance sector later spread to other sectors. As a result, on Tuesday, the third trading day of the week, both stock exchanges posted gains in key indices, while trading volume on the Dhaka Stock Exchange (DSE) also increased significantly.
With today’s rise, the capital market maintained an upward trend in 10 out of the last 11 trading sessions.
Earlier, after nine consecutive sessions of gains, the market saw a sharp, across-the-board decline on Monday. However, at the start of trading on Tuesday, share prices of insurance companies began to rise. As the session progressed, the dominance of the insurance sector became more evident, boosting buyer activity. The trading session ended with most companies posting gains.
According to DSE sources, the DSE Broad Index rose 36 points to stand at 5,519 points at the end of the day. The DSE Shariah Index increased by 3 points to 1,111 points, while the DS30 Index gained 10 points to reach 2,080 points. Among 397 companies and mutual funds traded during the day, 246 advanced, 100 declined, and 51 remained unchanged.
The DSE recorded a total turnover of Tk 1,387.84 crore, which was Tk 315.38 crore higher than the previous trading session. On the previous day, turnover stood at Tk 1,072.46 crore.
On the other hand, the overall index of the Chittagong Stock Exchange (CSE), CASPI, rose by 3 points to 15,317 points. A total of 238 institutions participated in trading on the CSE, of which 140 advanced, 70 declined, and 28 remained unchanged. The exchange recorded a turnover of Tk 23.72 crore in shares and units.
At the DSE, Beximco Limited topped the list of losers. The company’s share price fell by 9.99 percent compared to the previous day. A total of 8,026 shares were traded in 60 transactions, with a market value of Tk 8 lakh.
Islamic Bank Bangladesh ranked second, with its share price falling by 9.82 percent. A total of 40,416 shares were traded in 280 transactions, with a market value of Tk 11 lakh.
Tung Hai Knitting ranked third, with its share price dropping by 6.45 percent. A total of 292,856 shares were traded in 87 transactions, with a market value of Tk 8 lakh.
Among other decliners, Fareast Finance and Investment, Peoples Leasing and Financial Services fell by 6.25 percent, FAS Finance and Investment by 5.88 percent, Capitec BDBL Mutual Fund One by 4.67 percent, Crown Cement by 4.44 percent, Meghna Condensed Milk by 3.98 percent, and Prime Textile by 3.72 percent.
On the gainers’ side, Peoples Insurance Company Limited topped the list, with its share price rising by 9.98 percent. A total of 3.653 million shares were traded in 2,000 transactions, with a market value of Tk 20.78 crore.
Mercantile Islami Insurance ranked second, gaining 9.83 percent. A total of 1,278,171 shares were traded in 786 transactions, with a market value of Tk 4.88 crore.
Apex Spinning ranked third, with its unit price rising by 8.72 percent. A total of 268,741 shares were traded in 2,139 transactions, with a market value of Tk 8.87 crore.
Other gainers included Summit Alliance Port with 8.63 percent, Asia Insurance with 7.28 percent, Samata Leather with 7.16 percent, Taufika Industries with 6.77 percent, Paramount Insurance with 6.65 percent, Nitol Insurance and CVO Petrochemical with 6.06 percent gains.
