Stocks rise for sixth day

Dhaka stocks ended higher yesterday maintaining its rally for the sixth day as investors remained upbeat in the midst of the release of second quarter results of companies.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), edged up 16 points, or 0.22 per cent, to 7,105 yesterday.

At the premier bourse of the country, 162 stocks advanced, 174 fell and 42 remained the same.

Stock investors are buying stocks as they got back their confidence with the recent rise in spite of the pandemic, said a stockbroker.

The DSEX rose 109 points in the last six days while average daily new infections over the past seven days has almost doubled to 5,856 compared to that the previous week.

Investors hope that the economic activities of the country will remain open, so they have continued to invest, he added.

Keya Cosmetics topped the gainers' list yesterday, soaring 10 per cent, followed by Deshbandhu Polymer, Golden Son, Global Heavy Chemicals, and Union Insurance Company.

Tallu Spinning Mills slid 25 per cent, the highest fall, followed by Fu-Wang Foods, Fareast Islami Life Insurance Company, Desh Garments and Prime Islami Life Insurance.

Beximco stocks were traded the most, worth Tk 246 crore, followed by Bangladesh Shipping Corporation, Fortune Shoes, Saif Powertec and ACI.

Turnover of the DSE, an important indicator of the stock market, dropped 7 per cent to Tk 1,601 crore, down from the previous day's Tk 1,735 crore.

The stocks in Chattogram also rose yesterday. The CASPI, the main index of the Chittagong Stock Exchange, went up 65 points, or 0.31 per cent, to 20,817.

Among 308 stocks to undergo trade, 125 went up, 130 down and 53 remained unchanged.