Stocks go upward for 5th day as banks keep rising

Staff Correspondent | Published: 22:50, Oct 05,2017

 
 

Dhaka stocks rose for the fifth trading session on Thursday with the turnover crossing Tk 1,000-crore mark after nine trading sessions as investors continued optimistic participation with banking shares.
The key index of Dhaka Stock Exchange, DSEX, finished at 6,202.31 points, adding 0.68 points or 42.35 points. The DSEX has increased 123 points in five trading sessions.
Stockbrokers said that the market surge extended to fifth trading session mainly due to investors’ optimistic participation on the trading floor.
Foreign investment data that was released on Tuesday showed that foreign investment at DSE soared by 450 per cent in September against their investment in the previous month, promoting general investors to remain in buying mood for another trading session, they said.
Besides, investors’ strong purchasing of banking scrips was, also among other reasons, behind the notable market surge on Thursday.
Of the 30 banks’ shares traded, prices of 26 advanced, 3 declined and rest one remained unchanged.
Turnover on the bourse increased by 19.68 per cent to Tk 1,058.49 crore from Tk 884.45 crore in the previous trading session.
Of the 332 companies and mutual funds traded, 144 advanced, 149 declined and 39 remained unchanged.
Among the major sectors, banking scrips gained the most with an average 2.1 per cent increase, while telecommunication, Pharmaceuticals and non-bank financial institutions sectors rose by 0.6 per cent, 0.5 per cent and 0.2 per cent respectively on an average.
On the other hand, cement sector lost 0.9 per cent on the day on an average, while engineering and food sectors lost 0.2 per cent and 0.1 per cent respectively.
‘Index moved at stably positive direction throughout the day with mild flat movement during the middle of the day,’ said LankaBangla Securities in its market report.
DS30, the blue-chip index of the bourse, rose 0.5 per cent or 10.97 points, to close at 2,201.43 points.
The Shariah index, DSES, finished at 1,349.91 points, adding 0.42 per cent or 5.77 points.
Uttara Bank, EXIM Bank, United Commercial Bank, LankaBangla Finance, Islami Bank, Aamra Networks, Premier Bank, Mercantile Bank, Trust Bank and BBS Cables were other turnover leaders.
Trust Bank gained the most with an 8.18 per cent increase in its share prices, while Modern Dyeing and Screen Printing was the worst loser, shedding 5.43 per cent.

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