Stocks march forward for the second day
Stocks advanced for the second day in a row on the back of increased investor participation.
DSEX, the benchmark index of Dhaka Stock Exchange, gained 29.76 points, or 0.66 percent, yesterday to close at 4,531.98 points.
The index rose with modest strength, partly offsetting the sharp pullback seen the previous week, LankaBangla Securities said. The buying interest drove the market forward, as value stocks caught investors' eyes, it added.
IDLC Investments said the central bank's move on loan provision on mutual funds created further breathing space for the market.
Furthermore, the central bank on Sunday extended the commercial banks' deadline for adjustment of single-borrower exposure limit for financing the operations of their subsidiaries, brokerage houses and merchant banks by one more year.
Turnover rose 18.3 percent from the previous day to Tk 428.31 crore upon transactions of 9.72 crore shares and mutual fund units.
Of the traded issues, 197 advanced, 88 declined and 32 remained unchanged at the end of yesterday's trading.
Olympic Accessories dominated the turnover chart with its transaction of 40.98 lakh shares worth Tk 20.75 crore, followed by Lafarge Surma Cement, Beximco Pharma, Square Pharma and Grameenphone.
Among the major sectors, fuel and power gained 1.22 percent in market capitalisation, bank 0.58 percent and pharma 0.4 percent.
Hakkani Pulp and Paper was the day's best performer, advancing 9.9 percent, while Bangladesh Industrial Finance Company was the worst loser, slumping 24.36 percent.
Chittagong stocks also gained yesterday, with the bourse's benchmark index, CSCX, increasing 60.93 points to stand at 8,476.83.
Gainers beat losers on the Chittagong Stock Exchange as 151 advanced and 61 declined, while 40 remained unchanged.
During the course of the day, the port city bourse traded 90.03 crore shares and mutual fund units, generating a turnover of Tk 42.85 crore.
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