Stocks keep gaining for 2nd day

Dhaka,  Thu,  24 August 2017
Published : 16 Jul 2017, 16:22:50 | Updated : 16 Jul 2017, 17:09:21

Stocks keep gaining for 2nd day

FE Online Report
Stocks extended the winning streak for the two consecutive sessions on Thursday as enthusiastic investors continued their buying spree amid optimism.

Analysts said the market maintained upbeat momentum having optimistic support of sector specific stocks. However, top gainers chart dominated by low cap companies amid several speculations.

The market opened with an optimistic mood and the key index of the premier bourse rose more than 40 points within first hour of trading.

Afterwards, the investors concentrated on booking short-term profits following which the index eroded most of its initial gain and finally ended 9.85 points higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 9.85 points or 0.16 per cent to settle at 5,844.72 points, which was the highest level of DSEX since its inception on January 27, 2013.

The two other indices of DSE also edged higher. The DS30 index, comprising the blue-chips advanced 2.21 points or 0.10 per cent to finish at 2,133. 

The DSE Shariah Index (DSES) rose 0.41 points or 0.03 per cent to close at 1,327.

Turnover, the important indicator of the market, also surged to Tk 12.63 billion, which was 25 per cent higher than the previous day’s turnover of Tk 10.10 billion.

The gainers took a modest lead over the losers as out of 330 issues traded, 156 closed higher, 142 closed higher and 32 remained unchanged on the DSE trading floor.

IFAD Autos dominated the DSE turnover chart with about 5.11 million shares worth Tk 734 million changing hands, followed by Confidence Cement, Keya Cosmetics, Doreen Power and United Power.

Confidence Cement was the day's highest gainer, posting 6.66 per cent gain while Nurani Dyeing was the worst loser - shedding 5.26 per cent.

The port city bourse - Chittagong Stock Exchange (CSE), too, finished higher with its Selective Categories Index - CSCX - advancing more than 10 points to settle at 10,949 points.

Gainers beat losers as 119 issues closed higher, 115 lower and 34 remained unchanged on the CSE.

The port city bourse traded 27.58 million shares and mutual fund units worth more than Tk 741 million in turnover.

Editor : A.H.M Moazzem Hossain
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