News of DS30 Index sends stocks on the up

Stocks gained for the fourth consecutive day as investors injected fresh funds into the market anticipating a short-term bull run.
DGEN, the benchmark general index of Dhaka Stock Exchange (DSE), gained 3.72 points, or 0.09 percent, to finish the day with 4,171.41 points.
“Sector-wise movements were more evident as quarterly declarations started rolling in,” said IDLC Investments in its daily market commentary.
In the meantime, investor reaction to news of the DSE Bangladesh 30 index was positive regarding, as most companies to be included in the index gaining, the investment bank said.
“Though the day started with an optimistic trading volume, it could
not be sustained as some of the earnings declaration could not satisfy investor expectations,” commented LankaBangla Securities in its regular market analysis.
“Five textile companies disclosed their latest quarterly earnings today, and all of them failed to live up to investor expectations.”
A total of 0.68 lakh trades were executed, with 6.39 crore shares and mutual fund units changing hands on the Dhaka bourse.
Turnover on the DSE floor declined 0.19 percent overnight to Tk 211 crore.
Of the 269 issues that traded on the DSE, 109 advanced, 129 declined and 31 remained unchanged.
Among the major sectors, non-bank financial institutions gained 1.53 percent, followed by pharmaceuticals 0.25 percent and banks 0.23 percent.
United Airways was the most-traded stock of the day, thanks to its transaction of 1.05 crore shares worth Tk 23.06 crore.
Hakkani Pulp and Paper was the biggest gainer of the day, posting a 10 percent gain, while Malek Spinning Mills was the worst loser, slumping by 9.79 percent.