DSE benchmark ends higher despite blue-chip declines

Staff Correspondent: The benchmark index of the Dhaka Stock Exchange (DSE) closed slightly higher on Monday, marking its fifth consecutive day of gains despite a volatile session driven by pressure on large-cap stocks from profit-taking investors.
On the day, the DSEX edged up by 5 points compared to the previous session and settled at 5,565. However, the blue-chip index dipped 4 points to close at 1,959.
In the five-day rally, the prime index surged 236 points, marking a substantial gain. Concurrently, market capitalization escalated by Tk10,000 crore, reaching Tk6.72 lakh crore. However, despite this extended period of growth, 4,874 beneficiary owner (BO) accounts were emptied.
EBL Securities said in its daily market review that the benchmark index of the Dhaka bourse managed to stay afloat in green territory following a volatile session due to profit booking selloffs as investors preferred to remain watchful of the current upbeat vibe after the market witnessed an uptrend for continuous sessions.
Large-cap stocks such as BAT Bangladesh, LafargeHolcim Bangladesh, Beximco Pharma, Grameenphone, BRAC Bank, Unilever Consumer Care, and Robi declined, causing mid-day volatility. However, Khan Brothers PP Woven, Square Pharma, City Bank, National Bank, and Shahjalal Islami Bank showed upward momentum, helping the index stay in the green. Among the traded scrips, 164 advanced, 197 declined, and 33 remained unchanged at the DSE.
Meanwhile, market turnover slightly decreased by 2% to Tk888 crore compared to Tk908 crore in the previous session. On the sectoral front, the pharma sector accounted for 15.9% of the total turnover, followed by the textile sector at 12.8% and the insurance sector at 10.7%.
Sea Pearl Beach Resort was the top traded stock with a turnover value of Tk37 crore, followed by Far-East Knitting, Orion Pharma, and Asiatic Laboratories.
Most sectors recorded lacklustre returns on Monday (8 July), with jute dropping by 1.9%, tannery by 1.8%, and travel by 1.5%, leading to the declines on the bourse.
Conversely, general insurance surged by 3.1%, textiles by 1.1%, and miscellaneous by 0.7%, showing the most significant gains. Loss-making firm Khan Brothers PP Woven topped the gainers table as its share price jumped around 10% to reach Tk140.4, followed by Golden Son, Global Heavy Chemical, and Miracle Industries. Multinational blue-chip company Unilever Consumer Care was worst at the DSE as its share price dropped around 3% to close at Tk2,695.1, followed by BD Lamps, Tamijuddin Textile, and Union Bank. The port city bourse, Chittagong Stock Exchange (CSE), also settled in green terrain. The CSCX and CASPI indices increased by 46 and 81 points, respectively. The bourse saw a turnover of Tk19.47 crore by the session’s close, which was 89% lower than the previous session.