Stocks rise for sixth straight day
All three Bangladesh stock indexes closed at record highs yesterday after a rocky week when investors were fretting over the Delta coronavirus variant while Bangladesh Bank launched an expansionary monetary policy for the current fiscal year.
Stocks of United Power Generation and Square Pharmaceuticals helped the indexes go up, contributing 15 points to the benchmark index.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), continued to surge for the past six trading days, rising 60 points, or 0.92 per cent, to 6,596 yesterday.
The DS-30, the blue chip stock index, soared 19 points to 2,385 on the day. The Shariah index of the premier bourse, DSES, rose 15 points to 1,439.
It looks to be a strong run of the indexes as investors' participation is well enough in the market, said a top stock broker.
For now, it looks justified based on strong earnings of the listed companies, he said, adding that the economy was rebounding.
The central bank's monetary policy was also supportive in sending the market index into higher levels, he added.
Turnover, another important indicator of the market, went up 8.5 per cent to Tk 2,511 crore. Market capitalisation of the DSE added 0.51 per cent to Tk 544,326 crore, which is also the highest in the DSE's history.
As banks do not have enough options for investing their excess liquidity due to the intensification of the pandemic, they are active in the stock market, said market analysts.
Many entrepreneurs are also rushing towards the stock market, they added.
At the DSE, 242 stocks advanced, 103 declined and 29 remained unchanged.
CVO Petrochemical Refinery topped the gainers' list, rising 10 per cent, followed by Usmania Glass Sheet Factory, Dacca Dyeing, Paper Processing & Packaging, and Gemini Sea Food.
Stocks of Beximco were traded the most, worth Tk 128 crore, followed by Orion Pharmaceuticals, GPH Ispat, Malek Spinning and Saif Powertec.
Asian Tiger Sandhani Life Growth Fund shed the most, falling 6.25 per cent, followed by Beacon Pharmaceuticals, GBB Power and NLI First Mutual Fund.
The port city bourse also rose yesterday. The CASPI, the general index of the Chittagong Stock Exchange, advanced 155 points, or 0.82 per cent, to 19,014.
Among 326 stocks to undergo trade, 165 advanced, 141 dropped and 20 remained unchanged.
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