Stocks' gaining streak continues

Stocks gained for the third week with significant turnover improvement in the last on the back of investors' buying spree spurred by positive corporate earnings of listed firms.
DSEX, the benchmark general index of the Dhaka Stock Exchange, closed the week at 4,486.20 points, after gaining 59.04 points or 1.33 percent. DSES, the shariah index of the premier bourse, went up 21.62 points or 2.15 percent to close at 1,026.28.
Positive corporate earnings of most of the listed companies in April-June quarter created a momentum for the market to rally around the first week of the month, said LankaBangla Securities.
“Investors' confidence seems to get back to the positive mode as the economy is showing signs of recovery after prolonged period of political turmoil.”
Some heavyweights like Grameenphone, Advanced Chemical Industries, Square Pharma and British American Tobacco Bangladesh Company also led the market rally, the stockbroker said.
“The half-yearly earning disclosures as well as the latest monetary policy statement led investors reshuffle their portfolios,” IDLC Investments said.
Investors focused on fuel and power, telecoms and cement, the investment banker said. Daily average turnover rose 69.34 percent to Tk 544 crore, compared to the last week.
Gainers took a modest lead over the losers as 179 advanced, 113 declined and 14 issues remained unchanged that traded on the DSE.