Stocks rise for third day

Stocks gained for the third day yesterday with the key index of the prime bourse crossing 4,700 points for the first time since its inception on January 27 last year, as the investors continued to take fresh position.
 DSEX, the benchmark yardstick of the Dhaka Stock Exchange, closed the day at 4,702.66 points, after surging 62.10 points or 1.33 percent.
DSES, the shariah index of the Dhaka bourse, gained 15.26 points or 1.58 percent to close the day at 976.33 points.
The market closed the week with big jump in indices amid revived market participation, LankaBangla Securities said in its regular market analysis.
“Investors are hustling to buy shares and pushing the market up continuously. DSEX recorded its highest single-day gain over 62 points on the day though some investors were lured by profit booking at attractive prices.”
All the mutual funds except First Bangladesh Fixed Income Fund rallied on the day with five of them dominating the top 10 gainers chart. The sector posted an overall gain of 3.62 percent.
Among the major sectors: non-bank financial institutions gained 3.52 percent, power 2.51 percent and telecoms 1.51 percent. Gainers beat losers 177 to 97 with 21 issues remaining unchanged on the DSE floor.
Turnover, the most important indicator of the market, declined 0.15 percent to Tk 834 crore from the previous day.
A total of 1.7 crore trades were executed with 20.1 crore shares and mutual fund units changing hands on the Dhaka bourse.
LankaBangla Finance dominated the top turnover chart with 37.79 lakh shares worth Tk 30 crore changing hands followed by Padma Oil, Square Pharma, Olympic and Meghna Petroleum.
Rupali Bank was the day's highest gainer, posting a rise of 10 percent, while Meghna Condensed Milk was the worst loser, slumping by 7.28 percent.
The Chittagong Stock Exchange also closed higher with its selective categories index, CSCX, gaining 117.74 points to close the day at 9,234.14 points.
Gainers beat losers 136 to 90 with 13 issues remaining unchanged at the port city bourse that traded 2.1 crore shares and mutual fund units with a turnover of Tk 69 crore.