The Dhaka Stock Exchange (DSE) witnessed another eventful trading day on October 22, 2024, with notable movements in both the top gainers and losers categories. Understanding the stock market’s performance is crucial for investors, whether you’re a seasoned trader or someone new to the stock market. In today’s article, we’ll break down the key insights of the day, focusing on the top-performing and underperforming stocks.
Market Overview
As of October 22, 2024, the DSEX Index closed at 5241.77 points, gaining 68.66 points with a 1.33% increase compared to the previous trading session. The DSES Index also saw a positive trend, climbing by 17.03 points to settle at 1174.02, marking a 1.47% growth. Meanwhile, the DS30 Index grew by 20.54 points, closing at 1924.33 and showing a 1.08% increase.
With over 116,277 trades executed today, the market’s total trading volume was 131.97 million shares, amounting to a value of Tk 3,582.25 million. Among the stocks listed, 306 advanced, 55 declined, and 34 remained unchanged.
Top Gainers on the Dhaka Stock Exchange (October 22, 2024)
The following stocks showed remarkable growth, with percentage changes based on their closing and opening prices. These companies experienced significant buying interest, driving their stock prices higher.
- Paramount Insurance
- Closing Price: 33.0 BDT
- % Change: +10%
- Paramount Insurance had the best performance, with a 10% increase, reflecting strong investor confidence in its future outlook.
- Central Pharmaceuticals
- Closing Price: 37.8 BDT
- % Change: +9.88%
- The stock surged by 9.88%, showing an impressive performance in today’s market.
- Asia Insurance
- Closing Price: 24.5 BDT
- % Change: +9.86%
- Asia Insurance was another top gainer, closing 9.86% higher than its previous close.
- BNICL (Bangladesh National Insurance Co. Ltd.)
- Closing Price: 36.9 BDT
- % Change: +9.82%
- Peoples Insurance
- Closing Price: 29.1 BDT
- % Change: +9.81%
- Union Insurance
- Closing Price: 24.9 BDT
- % Change: +9.69%
- BBS Cables
- Closing Price: 10.3 BDT
- % Change: +9.57%
- Asia Pacific Insurance
- Closing Price: 29.9 BDT
- % Change: +9.52%
- ETL (Eastern Tubes Ltd.)
- Closing Price: 9.2 BDT
- % Change: +9.52%
- JMI Syringe & Medical Devices
- Closing Price: 119.3 BDT
- % Change: +9.35%
These stocks have been leading the way with significant price appreciation, creating optimism among investors and indicating strong market sentiment for these companies.
Top Losers on the Dhaka Stock Exchange (October 22, 2024)
While the stock market showed overall growth, some stocks underperformed. Here are the top ten losers of the day:
- Pragati Life Insurance
- Closing Price: 192.6 BDT
- % Change: -8.72%
- Pragati Life Insurance led the losers’ list, falling by 8.72%.
- NRB Bank
- Closing Price: 12.5 BDT
- % Change: -6.71%
- SK Trims & Industries
- Closing Price: 14.5 BDT
- % Change: -4.60%
- Lovello Ice Cream
- Closing Price: 96.6 BDT
- % Change: -4.45%
- Alltex Industries
- Closing Price: 86.4 BDT
- % Change: -4.10%
- Agnisys Ltd.
- Closing Price: 35.3 BDT
- % Change: -4.07%
- Heidelberg Cement Bangladesh
- Closing Price: 246.2 BDT
- % Change: -3.79%
- Apex Tannery
- Closing Price: 75.6 BDT
- % Change: -3.57%
- National Bank Ltd. (NBL)
- Closing Price: 5.4 BDT
- % Change: -3.57%
- ICB Agrani Bank Mutual Fund
- Closing Price: 6.2 BDT
- % Change: -3.13%
Market Sentiment and Analysis
Overall, today’s trading session on the Dhaka Stock Exchange was marked by strong buying activity, as evidenced by the rise in the DSEX, DSES, and DS30 indices. The total trade volume exceeded 131.97 million shares, with a total market value of Tk 3,582.25 million.
Investors focused heavily on the insurance sector, with multiple insurance companies featuring in the top gainers’ list. Paramount Insurance and Central Pharmaceuticals topped the charts with their double-digit percentage gains.
On the other hand, Pragati Life Insurance experienced the biggest decline, likely due to short-term profit-taking or a bearish outlook on the company’s performance. The downward movement in banking and industrial stocks like NRB Bank and SK Trims suggests some weakness in these sectors.
Conclusion
The Dhaka Stock Exchange (DSE) remains dynamic, with sectors like insurance and pharmaceuticals gaining significant traction, while other sectors such as banking and industrials face challenges. Investors should keep a close eye on these sectors as they evaluate potential investment opportunities.
For more updates on market trends, stock insights, and expert analysis, stay tuned to our daily market overviews on Econ Horizon!
