DSEX hits 4-month high

Stocks in Bangladesh remained thriving for the third consecutive trading session Monday, taking the DSEX to the 6,600-mark after more than four months, as investors continued their course of buying sector-specific issues.

The DSEX, the benchmark index on the Dhaka Stock Exchange (DSE), added 65.74 points or 1 per cent to settle at 6,601 as against 6,535 points in the previous trading session.

Among other two major indices, the DS30, that comprises the blue-chip companies, surged 42.59 points or 1.8 per cent to close at 2,406, and the DSES, the Shariah-based index, gained 15.71 points or 1.09 per cent to 1,451.

Turnover, another crucial market indicator, jumped 9.7% to Tk1989.8 crore versus Tk1813.9 crore in the previous session.

The equity indices on the Dhaka bourse extended their gains for the third session in a row as investors continued their hunts on particular sector-specific stocks, said EBL Securities, a stockbroker, in its daily market review.

The market witnessed an upsurge right from the start of the session as investors continued injecting fresh funds into selective large-cap stocks in the hope of quick gains, while most others faced corrections.

On the sectoral front, miscellaneous sector contributed the highest to the turnover chart, capturing 24.5 per cent of the total turnover, followed by pharma and chemical (21.3%) and engineering (9.4%).

Almost all the sectors displayed mixed returns on the DSE trading floor.

Of them, services sector posted the maximum gain of 3.7% per cent, followed by travel (3.2%) and miscellaneous (3.2%) while jute, general insurance, and cement went through corrections.

Out of 386 issues traded, 88 stocks surged,155 issues declined and 143 scrips did not see any price movement on the DSE trading floor.

The port city bourse, the Chittagong Stock Exchange (CSE) also advanced Monday with the CSCX, the selected index and the CASPI, the All-share price index, gaining 116.3 points and 193.1 points respectively.