Stocks rise for fourth day on better earnings reports

Staff Correspondent | Published: 00:05, Nov 03,2017 | Updated: 00:34, Nov 03,2017

 
 

Dhaka stocks increased for the fourth session in a row on Thursday, the last trading session of the week, following declaration of better earnings reports by most of the listed companies, attracting investors to purchase shares.
The key index of Dhaka Stock Exchange, DSEX, finished at 6,099.02 points, adding 0.43 per cent or 26.68 points.
The key index of the bourse increased 104 points in last four trading sessions.
In line with last three trading sessions, the market finished on the positive trajectory, mainly due to investors’ optimistic purchasing, stockbrokers said.
Announcement of better earnings reports by most of the listed companies was the main reason behind investors’ optimism, they said.
On Thursday, Eastern Housing Limited announced its profit for July-September of the year 2017.
EHL’s earnings per share for the period increased to Tk 1.24 against that of Tk 0.75 in the corresponding period of 2016, attracting investors to purchase the scrip heavily.
Supported by EHL’s positive earnings report, average prices of the services and real estate sector increased by 3.3 per cent on Thursday.
Except three sectors— jute, cement and banking—prices of all other sectors increased on the day.
Jute, cement and banking sectors fell by 1.2 per cent, 0.3 per cent and 0.2 per cent respectively on an average.
Of the 332 companies and mutual funds traded, 183 advanced, 108 declined and 41 remained unchanged.
Turnover on the bourse increased a bit to Tk 675.92 crore compared with that of Tk 663.74 crore in the previous trading session.
DS30, the blue-chip index, finished at 2,201.45 points, increasing 0.56 per cent or 12.46 points.
The Shariah index, DSES, increased 0.57 per cent or 7.56 points, to close at 1,329.10 points.
EXIM Bank led the turnover chart with its shares worth Tk 23.48 crore changing hands.
United Commercial Bank, IFAD Autos, Power Grid Company of Bangladesh, Keya Cosmetics, LankaBangla Finance, City Bank, BRAC Bank, One Bank and Western Marine Shipyard were other turnover leaders.
Eastern Housing gained the most on the day with a 9.80 per cent increase in its share prices, while Samata Leather Complex was the worst loser, shedding 4.7 per cent. 

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