Textile, fuel shares boost Dhaka stocks | The Daily Star
12:00 AM, April 09, 2018 / LAST MODIFIED: 12:00 AM, April 09, 2018

Textile, fuel shares boost Dhaka stocks

Stocks continued to gain for the third consecutive session yesterday, thanks to the buying pressure from the textile, fuel and power sectors' shares.

As textile, fuel and power companies will soon declare their yearly earnings and dividends, optimistic investors are splurging on these shares, experts said.

Of the 18 listed fuel and power companies, prices of 14 increased on the DSE floor while 39 out of 50 textile companies saw a rise in price.

DSEX, the benchmark index of the premier bourse, rose 24.19 points or 0.41 percent finishing the day at 5,865.38.

The Dhaka bourse witnessed another winning session as the investors were expecting an upward trend in the market thanks to some decisions taken by the government, EBL Securities said in its daily market analysis.

The core index sustained a positive vibe throughout the session without any halt, it said.

Turnover, another important indicator of the market, jumped 9 percent to Tk 622.05 crore with 19.08 crore shares and mutual fund units changing hands on the DSE.

Of the traded issues, 164 advanced, 134 declined and 36 closed unchanged on the premier bourse.

Beximco dominated the turnover chart with 1.10 crore shares worth Tk 32.50 crore changing hands, followed by Alif Manufacturing, Brac Bank, and Unique Hotel.

Among the major sectors, textile increased 2.22 percent in market capitalisation, followed by financial institutions that rose 2.11 percent, and fuel and power 1.69 percent.

On the other hand, non-life insurance sector declined 0.7 percent in market capitalisation and pharma 0.2 percent.

Alif Manufacturing was the day's best performer with a 9.91 percent gain followed by Popular Life Insurance, Monno Ceramic and GBB Power.

Northern Jute was the worst loser, shedding 7.19 percent followed by Islamic Finance, Continental Insurance and Savar Refractories.

Chittagong stocks also inched up yesterday with the bourse's benchmark index, CSCX, increasing 40.39 points or 0.4 percent to finish the day at 10,932.13.

Gainers beat losers as 141 advanced, 71 declined and 22 finished unchanged.

The port city bourse traded 1.08 crore shares and mutual fund units worth Tk 30.77 crore in turnover.

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