Stocks’ rally continues
Dhaka stocks finished higher yesterday compared to the preceding day as traders hoped for the index to better perform in the upcoming days.
The benchmark index of Dhaka Stock Exchange (DSE), the DSEX, edged up 36 points, or 0.53 per cent, to 6,929. This is fifthconsecutive trading days' rise for the index.
Investors' participation was higher in the market. Turnover of the premier bourse soared by around 20 per cent to Tk 1,414 crore.
As the market is rising, people are regaining their confidence, said a top official of a stock brokerage firm.
So general investors are also pouring in funds and the stock index is rising, he said, adding that they should not lose hope when it undergoes a correction.
They should invest in good stocks so that their investments remain safe, even if the Omicron variant has a big impact in the country, he added.
If anyone invest in companies with good performance records, they will not be detrimentally impacted in the long run, he added.
At the DSE, 218 stocks advanced, 121 fell and 39 remained the same.
Among the major sectors, non-bank financial institutions (NBFIs), services and real estate and textile closed in the positive. Life insurance, mutual funds and pharmaceuticals faced correction, according to UCB Stock Brokerage.
Bangladesh Shipping Corporation topped the gainers' list, rising 9.94 per cent, followed by Robi Axiata, National Housing Finance and Investments, Bangladesh Thai Aluminum, and Taufika Foods and Lovello Ice-cream.
Prime Insurance Company stocks shed the most, eroding 5.75 per cent, followed by National Life Insurance Company, Popular Life Insurance Company, Sonali Paper and Board Mills, and Sonali Life Insurance Company.
Stocks of Beximco were traded the most, worth Tk 100 crore, followed by Bangladesh Shipping Corporation, Fortune Shoes, Power Grid Company of Bangladesh, and Saif Powertec.
The stock bourse of Dhaka continued its gaining streak as the buoyant investors went on a purchase spree in sector-specific stocks, said International Leasing Securities in its daily market review.
Chittagong Stock Exchange (CSE) also rose yesterday. The CASPI, the main index of the bourse of the port city, rose 172 points, or 0.85 per cent, to 20,326.