Stocks rising over increased investor participation
The stock market continued to rise for a second consecutive day as investor participation increased after many shares reached lucrative prices in the recent bearish trend.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 103 points, or 2 per cent, to 5,281 yesterday.
Market analysts say that many well-performing stocks dropped by around 15 per cent in the past month to reach the bottom level.
In this position, many investors consider these stocks to be lucrative and so, they are investing.
Besides, investors know about the Covid-19 pandemic's impact, so it seems that they expect the situation to return to normal after a few months.
However, a downside for the market is that the insurance sector is once again on the top gainers' list, proving that gamblers are still active.
Stocks of the insurance sector witnessed significant growth over the past few months due to incessant gambling, the analysts said.
Northern Insurance topped the gainers list, rising 10 per cent, followed by Islami Insurance, Aramit Cement, Reliance Insurance, Bangladesh National Insurance and Federal Insurance.
Stocks of Beximco Limited traded the most with Tk 44 crore worth of shares changing hands, followed by Robi Axiata, Asia Pacific Insurance, LankaBangla Finance, and Beximco Pharmaceuticals.
Mercantile Bank shed most, dropping 12 per cent, followed by BIFC, ACI Formulations, ICB Islamic Bank and SEBL First Mutual Fund.
At the DSE, 240 stocks advanced, 15 declined and 91 remained unchanged.
The Chittagong Stock Exchange also remains in an upward trend. CASPI, the general index of the port city bourse, rose 297 points, or 1.98 per cent, to stand at 15,264.
Among its 188 traded stocks, 146 rose, 12 fell and 30 remained unchanged, CSE data shows.
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