Stocks rise, major index crosses 5,500 points

Shares on the Dhaka Stock Exchange (DSE) rose yesterday as the benchmark index surpassed the 5,500-point mark after nearly two months as investors placed fresh bets on large-cap scrips to make quick gains.
Most of the large-cap sectors demonstrated positive performance with the food and allied sector booking the highest gain of 3.21 percent.
The other sectors that gained included telecommunication, banking, fuel and power, non-bank financial institutions, pharmaceuticals, and engineering.
BAT Bangladesh, Grameenphone, Khan Brothers PP Woven Bag Industries, BRAC Bank, City Bank, United Commercial Bank, Eastern Bank, National Bank, Sonali Paper and Board Mills, and Rupali Life Insurance were among the large-cap shares that fared well.
The key index of the country's premier bourse, DSEX, jumped 61.38 points, or 1.12 percent, to close the day at 5,558.94.
Similarly, the DSES, the index that represents Shariah-compliant companies, climbed 6.13 points, or 0.51 percent, to 1,214.83.
The DS30 index, which is composed of the blue-chip firms, edged up 13.16 points, or 0.67 percent, to 1,964.49.
Turnover, which indicates the volume of shares traded during the session, stood at Tk 908 crore, an increase of 17.92 percent compared to the previous session.
The pharmaceuticals sector dominated the turnover chart, accounting for 15.12 percent of the turnover.
Block trades, a high-volume transaction in a security that is privately negotiated and executed outside of the open market, contributed 9.7 percent to the turnover.
Sea Pearl Beach Resort & Spa was the most traded share with a turnover of Tk 34.6 crore. Appollo Ispat Complex and Delta Spinners shared the top spot, gaining 10 percent each.
Loss-making firm Khan Brothers PP Woven Bag Industries was also one of the index movers, advancing 3.67 percent.
S Alam Cold Rolled Steels, Zeal Bangla Sugar Mills, Doreen Power Generations and Systems, Ring Shine Textiles, and GBB Power also gained.
New Line Clothings shed the most, losing 2.98 points. Walton Hi-Tech Industries, Zahintex Industries, Desh General Insurance Company, Rahima Food Corporation, and Crystal Insurance Company all suffered losses.
Out of the 398 issues that changed hands on the DSE, 305 advanced, 69 declined, and the rest did not see any price movement.
The Chittagong Stock Exchange also saw a similar trend as the Caspi, the key index of the bourse in the port city, went up 249.51 points, or 1.61 percent, to settle at 15,713.03.
Comments