Stocks return to the black

Stocks returned to the black yesterday riding on large cap companies.
DSEX, the key index of the Dhaka Stock Exchange, gained 26.56 points or 0.61 percent to close at 4,389.
The shariah index of the premier bourse, DSES, closed at 1,001 points, after gaining 9.12 points or 0.92 percent.
The market gained on positive movement of large caps companies in food and allied, cement and engineering sectors that rose 2.95 percent, 2.27 percent and 1.13 percent, IDLC Invest-ments said.
“Additionally, news on 95 percent ADP implementation in FY 2013-14 created an upbeat stimulus.”
Besides, expectation on upcoming earnings and corporate disclosures merged with the day's vibe, the investment banker said.
Life insurance fell 0.47 percent and telecoms 0.32 percent.
Turnover, the most important indicator of the market, advanced 32.69 percent to Tk 256 crore, compared to that in the previous day.
A total of 0.64 lakh trades were executed with 6.16 crore shares and mutual fund units changing hands on the Dhaka bourse.
Beximco topped the list of most traded stocks with its transaction of 10.76 lakh shares worth Tk 38 crore followed by Grameenphone, Square Pharma and Lafarge Surma Cement.
Shahjibazar Power Company was the highest gainer of the day, as it posted a 10.13 percent rise, while Popular Life was the worst loser, plunging 5.48 percent.
Chittagong Stock Exchange also gained yesterday with its selective categories index, CSCX, going up 41.06 points to close at 8,332.51.
Gainers beat losers by 99 to 65, while 35 remained unchanged at the port city bourse that traded 5.56 lakh shares and mutual fund units with Tk 22 crore in turnover.