• Thursday, October 30, 2014

Stocks continue to gain on growing confidence

Star Business Report

Stocks gained for the sixth day yesterday, as investors went on a buying spree amid growing confidence.

DSEX, the key market gauge of the Dhaka bourse, gained 34.29 points or 0.77 percent to close at 4,565.

DSES, the shariah index of the DSE, gained 13.45 points or 1.28 percent to close at 1,060.

Spikes in large-cap stocks created optimism among investors, said IDLC Investments, an investment banker.

Among them, Lafarge Surma gained 3.67 percent, Square Pharma 1.93 percent and Grameenphone 1.83 percent.

Stocks gained as large-cap manufacturing stocks have continued to lead the market riding on investors buying interest, stated LankaBangla Securities.

Turnover advanced 3.44 percent to Tk 790 crore from the previous day—the highest in the last six months—indicating that the market is showing sign of life, the stockbroker said.

In response to growing market share of large steel manufacturers, engineering gained 3.66 percent, cement 2.63 percent while non-life insurance fell 0.62 percent.

A total of 1.53 lakh trades were executed with 16.48 crore shares and mutual fund units changing hands on the Dhaka bourse.

Losers took a modest lead over the gainers by 141 to 135, while 25 issues remaining unchanged on the DSE floor.

Square Pharma featured in the most traded stocks chart with 18.44 lakh shares worth Tk 52 crore changing hands followed by MJL Bangladesh and Grameenphone.

Apex Tannery was the highest gainer of the day, as it posted a 12.19 percent gain, while Exim Bank First Mutual Fund was the worst loser, plunging by 10 percent. 

Chittagong Stock Exchange also gained with its selective categories index, CSCX, gaining 54 points to close at 8,629.

Losers beat the gainers with 115 to 94 with 23 issues remaining unchanged at the port city bourse that traded 1.29 crore shares and mutual fund units with Tk 54 crore in turnover.

Published: 12:00 am Tuesday, August 12, 2014

Last modified: 2:52 am Tuesday, August 12, 2014

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