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Stocks extend gaining streak for 2nd day

Staff Correspondent
25 Jan 2023 00:04:08 | Update: 25 Jan 2023 00:12:35
Stocks extend gaining streak for 2nd day

Dhaka stocks extended its gaining streak for the second consecutive day on Tuesday as investors continued their buying appetite in sector-specific securities in hope of quick gains ahead of the upcoming earnings disclosures of the listed companies.

The DSEX, the broad index of the Dhaka Stock Exchange (DSE), jumped 27.8 points to settle at 6,291 against 6,264 in the previous trading
session. Among other indices, the DS30, the blue-chip index, added 15.26 points or 0.69 per cent to 2,226, and the DSES, the Shariah-based rose 7.04 points or 0.51 per cent to 1,372.

Meanwhile, the premier bourse witnessed an increase in participation, with the DSE turnover rising by 19.2 per cent to Tk 607 crore against Tk 509 crore in the previous session.

The market maintained its upbeat momentum throughout the session with buying dominance prevailing across the bourse as investors sought quick-gain opportunities in selective issues those were expected to be somewhat immune to earnings volatility induced by recent macroeconomic adversities, said EBL Securities, a stockbroker, in its daily market review. The general insurance sector topped the turnover chart with a contribution of 15.7 per cent to the total turnover of the DSE, followed by the IT (14.1 per cent) and pharma (11.1 per cent).

Most of the sectors displayed positive returns at the prime bourse, with the travel posting the highest gain of 6.9 per cent, followed by IT (3.3 per cent), and services (3.0 per cent).

On the other hand, the jute sector recorded the highest correction of 0.9 per cent, followed by tannery (0.7 per cent), and cement (0.2 per cent).  Eastern Housing Limited topped the gainers’ list on the trading floor of the prime bourse with a return of 9.9 per cent, while Orion Infusion Ltd was the day’s worst sufferer with a loss of 4.2 per cent yesterday.

Out of the 391 issues traded, 71 securities advanced, 101 stocks declined, and 219 scrips did not see any trading movement on the DSE trading floor.

The port city bourse, CSE, also settled on green terrain yesterday.

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