Stocks keep gaining for third day

Dhaka,  Fri,  22 September 2017
Published : 02 Aug 2017, 16:52:46

Stocks keep gaining for third day

Stocks keep gaining for third day
Stocks extended the gaining streak for three consecutive sessions as some optimistic investors continued their buying appetite on sector-wise issues on Wednesday.

Turnover, a crucial indicator of the market, also stayed above Tk 12.0 billion-mark for the second day and amounted to Tk 12.22 billion, against Tk 12.37 billion in the previous day.

Brokers said the market sustained gaining momentum with healthy amount of activities as optimistic investors remained active in the market while some rebalanced their portfolios.

After witnessing volatility in the early trading, the prime index of the Dhaka Stock Exchange (DSE) went up rest of the session and finally ended more than 14 points higher.

DSEX, the core index of the DSE which replaced the DGEN four-and-a-half-year back, went up by 14.32 points or 0.24 per cent to settle at 5,891 points, which was the highest level of DSEX since its inception on January 27, 2013.

The country's prime bourse launched the DSE Broad Index (DSEX) on January 27, 2013 with a base point of 4,055.90, replacing the DSE General Index (DGEN).

However, DGEN, the then key index of the DSE, rose to an all-time high at 8918.51 points on December 5, 2010, when the market was bullish before crash.

Along with core index, the total market capitalisation of the DSE also rose to an all-time high of over Tk 3,965 billion on Wednesday, surpassing the previous high of Tk 3,961 billion recorded on Monday.

However, the two other indices faced mild correction. The DS30 index, comprising blue chips, fell 4.52 points or 0.21 per cent to finish at 2,132. The DSE Shariah Index (DSES) lost 0.91 points or 0.06 per cent to close at 1,315.

The losers took a modest lead over the gainers as 329 issues traded, 148 closed lower, 141 closed higher and 40 remained unchanged on the DSE trading floor.

LankaBangla Finance led the turnover chart with about 16.31 million shares of Tk 915 million changing hands, followed by C&A Textile, Saif Powertec, Tung Hai Knitting and Fu-Wang Food.

Rupali Bank was the day’s highest gainer, posting a 7.03 per cent rise, while Sinobangla Industries was the worst loser, plunging 4.38 per cent.

The Chittagong Stock Exchange (CSE) also edged higher with its Selective Categories Index - CSCX – advancing more than 34 points to settle at 11,038 points.

Losers beat gainers as 122 issues closed lower, 111 closed higher and 29 remained unchanged on the CSE.

The port city bourse traded 27.16 million shares and mutual fund units’ worth Tk 691 million in turnover.
Editor : A.H.M Moazzem Hossain
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