A good start to the week for stocks

Stocks opened the week in the black with the key index crossing 4,600 points level in more than a month.

DSEX, the benchmark index of Dhaka Stock Exchange, finished the first day of the week at 4,615.19 after gaining 15.28 points or 0.33 percent.

Investor participation increased as sellers flocked to the market to book profits, according to LankaBangla Securities, a leading stockbroker.

On the other hand, expectations for bright earnings data from top-value stocks piqued strong buying interests. 

IDLC Investments said the index inched above the 4,600 point level after one month of corrections, backed by earnings expectations.

“Investors showed clear preference for blue chip scrips,” the merchant bank said. The gaining streak attracted the investors from the sidelines.

Turnover, another important indicator of the market, jumped 16 percent to Tk 553.75 crore on transactions of 12.35 crore shares and mutual fund units.

Of the traded issues, 138 advanced and 138 declined with 34 securities closing unchanged on the premier bourse. 

ACI dominated the turnover chart with 12.99 lakh shares worth Tk 82.46 crore changing hands, followed by Lafarge Surma Cement, Grameenphone, ACI Formulations and Beximco Pharma.

Among the major sectors, telecom gained 1.33 percent in market capitalisation, followed by fuel and power that increased 0.85 percent and pharma 0.78 percent.

Conversely, cement and textile lost 1.43 percent and 0.36 percent respectively.

MBL 1st Mutual Fund was the day's best performer rising 10 percent, while Hakkani Pulp and Paper that shed 9.46 percent was the worst loser.

The Chittagong bourse's benchmark index, CSCX, increased 18.38 points to stand at 8,645.25.

However, losers beat gainers as 117 declined and 94 advanced, while 35 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 1.21 crore shares and mutual fund units, generating a turnover of Tk 45.76 crore.