Stocks extend gaining streak for second day

Dhaka,  Tue,  26 September 2017
Published : 22 Aug 2017, 16:28:36
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Stocks extend gaining streak for second day

Stocks extend gaining streak for second day
FE Online Report
Stocks extended the winning streak for two consecutive sessions on Tuesday with rising turnover as optimistic investors continued to show their buying appetite on sector-wise large-cap stocks.

Dealers said the market ended higher amid increased turnover as pre-Eid sale pressure somewhat subdued while some hopeful investors took position on sector-specific issues amid optimism.

Following the previous day’s moderate gain, the market opened with a positive note which continued till end of the session with no sign of reversal, finally ended more than 18 points higher.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), which replaced the DGEN in four-and-a-half-year back, settled at 5,862, advancing 18.22 points or 0.31 per cent over the previous session.

The two other indices also closed higher. The DS30 index, comprising the blue-chips, advanced 5.46 points or 0.26 per cent to finish at 2,103 points. The DSE Shariah Index (DSES) gained 5.06 points or 0.38 per cent to close at 1,307 points.

Turnover, another important indicator of the market, stood at Tk 9.78 billion, which was 29 per cent higher than the previous day’s turnover of Tk 7.58 billion.

A total number of 0.156 million trades were executed in the day’s trading session with trading volume of 263.17 million securities.

The total market capitalisation of the DSE also rose to Tk 3,967 billion, which was Tk 3,955 billion in the previous session.

Gainers took a strong lead over the losers as 330 issues traded, 189 closed higher, 104 closed lower and 37 remained unchanged on the DSE trading floor.

Bangladesh Building Systems topped the turnover chart with about 12.62 million shares of nearly Tk 668 million changing hands, closely followed by BBS Cables, Fortune Shoes, Ratanpur Steels and LankaBangla Finance.

Intech Limited was the day’s top gainer, posting a 9.95 per cent gain, while Progressive Life Insurance was the worst loser, losing by 6.16 per cent.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed higher with its Selective Categories Index - CSCX – advancing more than 29 points to settle at 11,007 points.

Gainers beat losers as 144 issues closed higher, 82 closed lower and 33 remained unchanged on the CSE.

The port city bourse traded 19.72 million shares and mutual fund units’ worth Tk 722 million in turnover.

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