Stocks continue to rise

Stocks and turnover rose at Dhaka Stock Exchange (DSE) yesterday as general investors' confidence grew with a recent decision of the stock market regulator to prevent stocks from dropping by over 2 per cent in a day. 

The DSEX, the benchmark index of the DSE, went up 18 points, or 0.28 per cent, to 6,451. With that, the index rose for the sixth consecutive trading day. Turnover of the DSE also increased to Tk 875 crore from the previous day's Tk 743 crore.

General investors are bringing fresh money to invest hoping that the market will go up higher in the future as the stock market regulator is trying to keep the market index up, said a stockbroker.

The Bangladesh Securities and Exchange Commission (BSEC) increased the scope of lending to stock investors for buying stocks.

Moreover, it reduced the lower limit of the circuit breaker to 2 per cent from the previous 5 per cent.

The economic condition of the country is not that bad so as to result in a deep drop in the stock market index so general investors are getting the confidence to invest, the broker added.

Meanwhile, DS-30, the blue-chip index, remained almost the same yesterday while DSES, the Shariah-based index, rose 3 points.

At the DSE, 179 stocks advanced, 146 declined and 55 remained unchanged.

Meghna Condensed Milk Industries topped the gainers' list, rising 10 per cent. Aramit Cement, Meghna Pet Industries, The Peninsula Chittagong and BDCOM Online also made it to the list. Tamijuddin Textile Mills shed the most, dropping 1.95 per cent. Samorita Hospital, Pharma Aids, Fareast Finance and Investment and CVO Petrochemical Refinery also ended up in the list of those suffering losses the most.