Home ›› 03 Feb 2022 ›› Stock
Dhaka stocks extended gains with the benchmark DSEX index retrieving above the psychological barrier of 7,000-level after three days lifted by mainly Robi and Square Pharmaceuticals.
The index finished with a rise of 19 points or 0.27 per cent barely above the barrier to settle at 7,016, after hitting a high of 7,057 and a low of 7,010. The index gained for the second session in a row.
Its junior partners the Shariah-based DSES index was marked up 6 points or 0.43 per cent to 1,503 while the blue-chip DS30 index gained over 4 points or 0.16 per cent to 2,592.
But the turnover figure shrank to Tk 1,267 crore, down 6.34 per cent over the previous session. The miscellaneous sector dominated the turnover chart accounting for 13.58 per cent of the total turnover.
“Dhaka stocks extended the winning streak pushed by investors buying spree as they are cheered over better earnings growth reported by companies in their most recent quarterly earnings reports,” said the EBL Securities in a note.
The market started on a high note but morning optimism cooled down a bit as risk-averse investors engaged in profit booking as price appreciation of some issues enticed them to realize profits, it said.
Robi—the second top mobile phone operator and fourth biggest company by the market cap—rose 1.57 per cent, contributing 6.43 points to the broad index.
Square Pharmaceuticals—the local drug maker giant and fifth biggest company by the market cap—gained 1.16 per cent, contributing 4.72 per cent to the broad index.
Among the major sectors, insurers came to the spotlight led by Rupali Life Insurance hitting the upper limit circuit at 10 per cent. The telecommunication sector, energy, pharmaceuticals and textile issues also attracted the investors most.
On the flip side, ceramics, cement, non-banking financial institutions and paper sectors faced corrections.
Out of the 385 issues traded, 204 advanced, 126 declined, and 55 remained unchanged.
The newly-listed companies—BD Thai Food & Beverage and Union Insurance Company – continued to shine posting a rise of 9.84 per cent and 9.73 per cent respectively.
LafargeHolcim Bangladesh failed to attract investors event after reporting a 64 percent rise in net profit to over Tk 3,88 crore in the last year. Its shares fell 1.12 per cent.
The top turnover leaders included Beximco Ltd, Bangladesh Shipping Corporation, Fortune Shoes, Orion Pharma, Bangladesh Building Systems, RAK Ceramics (Bangladesh) and National Polymer Industries.
The port city bourse, CSE, settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) advanced by 24 points and 43.6 points respectively.
