Stocks keep rising, corporate earnings in focus

Dhaka stocks extended the gaining streak as the corporate declarations for the latest quarter enticed investors to pour funds into selective scrips in hope of quick gains.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), advanced 6.8 points to settle at 6,223 against 6,216 in the previous trading session.

Among other indices, the DSES, the Shariah-based index, rose 0.89 points or 0.06 per cent to 1,348, while the DS30, the blue-chip index, added 2.39 points or 0.10 per cent to 2,202.

Meanwhile, the premier bourse witnessed a decrease in participation, with the DSE turnover fell by 6.2 per cent to Tk 443 crore against Tk 472 crore in the previous session.

Buyers took the upper hand after a sluggish start of yesterday’s session, leading the core index to end on a positive note, said EBL Securities, a stockbroker, in its daily review.

However, some investors preferred profit booking and partial liquidation of their holdings ahead of the upcoming Eid festival, it added.

The IT sector topped the turnover chart with a contribution of 20.2 per cent of the total turnover of the DSE, followed by food and allied (20.1 per cent) and travel (11.5 per cent).

Unique Hotel & Resorts PLC was the day’s most traded stock with Tk 36 crore worth of share changing hands, followed by aamra networks limited, and Rangpur Dairy & Food Products Ltd.

Most sectors displayed positive returns, with the travel posting the highest gain of 3.3 per cent, followed by IT (1.4 per cent) and life insurance (0.7 per cent).

On the other hand, the jute sector faced the highest correction of 2.0 per cent, followed by services (0.4 per cent) and tannery (0.3 per cent).