Stocks extend gaining streak

Dhaka stocks gained for the third straight session lifted by the continuous buying from the institutional investors.

The market started on a positive note in the morning and the momentum continued until the close of the trade.

The broad DSEX index rose 56 points or 0.85 per cent to settle at 6,662. In three days, it increased 182 points.

The rally was led by NBFIs (+3.18 per cent), telecommunication (+0.96 per cent), fuel & power (+0.52 per cent), engineering (+0.52 per cent), pharmaceutical (+0.45 per cent), food & allied (+0.41 per cent), and bank (+0.31per cent).

The junior indices---the Shariah-based DSES index was up 10 points or 0.72 per cent at 1,464 while the blue-chip DS30 index moved up 14 points or 0.57 per cent at 2,478.

Grameenphone—the market’s bellwether—added almost 5 points to the DSEX, followed by ICB (4 points), Robi (3.83 points), Beximco (2.18 points), IPDC (1.96 points and Lafarge Holcim Bangladesh (1.87 points).

The institutional buying pushed by the securities regulator increased the turnover by more than 24 per cent to Tk 754 crore over the previous session. The miscellaneous sector accounted for more than 18.37 per cent of the total turnover.

The capital market opened with the continuation of the previous session’s optimism as institutional participation on the bourse triggered the recovery, while retail investors followed the upward momentum to end the indices in green terrain, said EBL Securities in a note.

Participation has observed a considerable rise as the bottom circuit breaker raised to 5 per cent, giving investors a breather to engage in fresh investment activities, it said.

Out of the 385 issues traded, 300 advanced, 55 declined, and 30 remained unchanged.

The port city bourse, CSE, also settled in green terrain. The selected indices (CSCX) and All Share Price Index (CASPI) have advanced by 87.6 points and 143.4 points respectively.

Beximco (+1.2 per cent) was the most traded stock, followed by JMI Hospital Requisite Manufacturing, Bangladesh Shipping Corporation, IPDC, Sonali Paper and BDCOM Online.

Beximco was the most traded stock, followed by JHRML, IPDC Finance, Bangladesh Shipping Corporation, Bangladesh Bureau of Statistics, Fortune Shoes and Lafarge Holcim Bangladesh.