Stocks keep rising

Shares on the Dhaka Stock Exchange (DSE) rose for the second consecutive day yesterday, pushing the benchmark index above 7,000 points after three days.

The DSEX, the broader index of the premier bourse in Bangladesh, closed 19 points higher at 7,016 at the end of the trading on the day.

The index closed above the 7,000-point mark, as investors put fresh bets on large-cap stocks based on the latest quarterly earnings declarations, said International Leasing Securities Ltd in its daily market analysis. 

Buying pressures of the investors lifted the DSEX at the beginning of the session. But after the mid-session, buyers' activity became slow, dragging it downwards. The DS30, which comprises blue-chip companies, and the DSES, which consists of Shariah-based firms, closed 4.20 points and 6.50 points higher, respectively.

The gainers took a strong lead over the losers, as 204 issues advanced, 126 declined and 51 remained unchanged on the DSE floor.

Turnover, however, fell 6 per cent to Tk 1,266 crore.

Among the sectors, tannery, general insurance and life insurance pulled off the highest price appreciation on the day, whereas ceramic, paper and printing, and cement sectors witnessed the highest price correction.

The investors' activity was mostly concentrated in the engineering and pharmaceuticals sectors, according to the analysis.

Beximco Ltd was the most-traded stock with its shares worth Tk 97 crore changing hands, followed by Bangladesh Shipping Corporation, Fortune Shoes, Orion Pharmaceuticals, and Bangladesh Building Systems.

Rupali Life Insurance topped the gainers' list after rising 10 per cent followed by BD Thai Food, Union Insurance, Bengal Windsor, and Olympic Accessories.

Samorita Hospitals shed the most as it gave up 5.95 per cent. Sonargaon Textiles, Matin Spinning, Bangladesh Building Systems, and RAK Ceramic Industries were also among the major losers.

Chittagong Stock Exchange (CSE) also went up. The CASPI, the main index of the bourse in the port city, edged up 43 points, or 0.21 per cent, to close at 20,566.

Of the 305 stocks, 170 were up, 101 were down, and 34 ended the session unchanged.