Stocks surge for fourth day
Stocks gained the highest DSEX value yesterday, the fourth day of a gaining streak, riding on investors' buying spree in anticipation of a positive market outlook.
DSEX, the benchmark general index of Dhaka Stock Exchange, closed the day at 4,826.51 points, after surging 38.85 points or 0.81 percent, which is the highest value since its launch on January 27 of last year.
DSES, the shariah index of the Dhaka bourse, went up 2.24 points or 0.23 percent, to close the day at 981.52 points.
Investors are showing appetite for the stocks of the financial and service sector, LankaBangla Securities said in its regular market analysis.
“Backed by continued upbeat sentiments, the key index DSEX surfaced over 4,800-point level for the first time,” IDLC Investments said in its daily market analysis.
Banks led the market, both in terms of price and volume, riding mostly on lucrative prices and earnings and dividend expectations, the investment bankers said.
The gainers took a modest lead over the losers as 175 issues advanced, 90 declined and 24 issues closed unchanged—out of the 289 issues that traded on the DSE.
Banks performed well as a large-cap sector that gained 2.24 percent, which is the highest among the major sectors. The sector also topped the turnover chart contributing 17.5 percent of the total market turnover.
The power sector that ranked second among the major sectors rose 1.0 percent. Telecoms and foods went up marginally by 0.28 percent and 0.10 percent respectively.
A total of 1.64 lakh trades were executed with 19.98 crore shares and mutual fund units changing hands on the Dhaka bourse.
Meghna Petroleum dominated the top turnover chart with 16.85 lakh shares worth Tk 46 crore changing hands, followed by Mercantile Bank, LankaBangla Finance, Aamra Technologies and
Padma Oil.
Islami Insurance was the day's highest gainer, posting a rise of 8.30 percent, while Rahima Food was the worst loser, slumping by 4.26 percent.
The Chittagong Stock Exchange closed higher, with its selective categories index, CSCX, gaining 86.33 points, to close at 9,493.35 points.
Gainers beat losers 131 to 83, with 18 issues remaining unchanged on the port city bourse that traded 2.2 crore shares and mutual fund units with turnover of Tk 71 crore.
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