Stocks rise on upbeat investor sentiment
Dhaka stocks ended higher today as investors were upbeat after the announcement of another expansionary monetary policy for the current fiscal year.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 56 points, or 0.87 per cent, to 6,481.56 on the day.
In the previous two trading days, the index rose at a slower pace and added 46 points as investors were cautious to see what is coming in the monetary plan.
Pinning hopes on the expansionary monetary policy, an increased number of investors started participating in the market with the belief that the money flow to the market will rise, according to industry analysts.
Turnover rose 43 per cent to Tk 2,187 crore today from the previous day.
S Alam Cold Rolled Steels topped the gainers' list that rose 10 per cent followed by Emerald Oil, Metro Spinning, Taufika Foods and Agro Industries and Index Agro Industries.
Stocks of Beximco Ltd traded mostly that worth Tk 58 crore followed by SAIF Powertec, Orion Pharmaceuticals, GPH Ispat, and Fu-Wang Ceramic.
Prime Insurance shed mostly in the market that fell 9.89 per cent followed by Zeal Bangla Sugar Mills, Phoenix Finance, Provati Insurance, and Savar Refractories.
At the DSE, 232 stocks advanced, 118 fell and 25 remained unchanged.
The Chattogram Stock Exchange also rose today. The CASPI, the general index of the port city bourse, increased 223 points, or 1.19 per cent, to 18,858.
Among 323 traded stocks, 231 advanced, 69 fell and 23 remained unchanged.