Stocks rally for 3rd day as bank shares keep gaining

Staff Correspondent | Published: 01:25, Nov 18,2016

 
 

Dhaka stocks continued to rise for the third consecutive session on Thursday with higher turnover despite suspension of trading on shares of 28 companies on the day.
The key index of Dhaka Stock Exchange, DSEX, increased 0.46 per cent or 21.78 points to finish at 4,598.54 points.
Turnover of the bourse also increased to Tk 628.16 crore from that of Tk Tk 607.15 crore in the previous trading session.
Market operators said that the positive vibe about the banking and other financial shares was the key reason for the investors’ optimism on Thursday.
The investors’ optimism about banks shares was perhaps because trading of 28 scrips was suspended on the day due to their record debt.
LankaBangla Securities in its daily market commentary on Thursday said that banking sector shares were the movers of the day.
‘Market registered a solid run-up in the morning on the heel of price movement in financial stocks. Stocks turned uneven in the afternoon following some profit booking on the stocks which made significant move in previous sessions. However, some banking stocks gave way to the bull to support the market just below 4700 level,’ it said.
Of the 293 companies and mutual funds traded, 138 advanced, 106 declined and 49 remained unchanged.
DS30, the blue-chip index of the bourse, increased 0.26 per cent or 4.6 points, to close at 1,758.45 points.
The Shariah index, DSES, increased 0.27 per cent or 3.02 points, to close at 1,122.69 points.
AB Bank led the turnover chart with its shares worth Tk 25.41 crore changing hands.
Grameenphone, Bangladesh Building Systems, Quasem Drycells, Shasha Denims, Golden Harvest Agro Industries, RK Ceramics, Square Pharmaceuticals, and Fortune Shoes were other turnover leaders.

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