Stocks gain for 6th day as investors keep taking fresh position

Staff Correspondent | Published: 21:16, Jan 03,2018 | Updated: 23:16, Jan 03,2018

 
 

Dhaka stocks advanced on Wednesday, extending the gaining streak to six sessions, as investors kept purchasing shares across the board.
DSEX, the key index of the Dhaka Stock Exchange, gained 0.60 per cent, or 38.30 points, to close at 6,318.27 points on the day. The index advanced by 158.74 points in last six trading sessions.
The market opened with bullish vibe that sustained until the end of the session as investors kept share purchasing to take fresh positions in the new year after the year-end sales, market operators said.
The market advanced on the day as share prices of all the large capitalised scrips except cement increased, stockbrokers said.
They said the average share prices of all the financial sectors and telecommunication gained due mainly to the investors’ expectation regarding the companies’ earnings and dividend disclosures.
The share prices of telecommunication, bank and non-bank financial institutions advanced by 1.4 per cent, 0.8 per cent and 0.7 per cent respectively.
Out of the 30 traded bank scrips, 26 advanced, two declined and two remained unchanged.
Among the leading stocks, Grameenphone gained 1.13 per cent. British American Tobacco and Square Pharmaceuticals also joined the rally.
On the other hand, IFAD Autos, Lafarge Surma and Olympic Industries were the highest negative index movers of the day.
The turnover at the DSE, however, declined to Tk 576.57 crore compared with that of Tk 606.89 crore in the previous session.
The capital bourse of the country kept rising for the sixth consecutive session amid optimistic behaviour from the investors, said EBL Securities in its daily market commentary.
‘The market retained momentum throughout the session as investors kept on taking fresh position on selective stocks,’ it said.
Of the 336 companies and mutual funds traded, 195 advanced, 101 declined and 40 remained unchanged.
DS30, the blue-chip index of the DSE, increased to all time high, gaining 0.45 per cent, or 10.44 points, to finish at 2,301.81 points on Wednesday.
Shariah index DSES also set fresh record on the day, increasing by 0.68 per cent, 9.57 points, to close at 1,411.96 points.
United Power Generation Company led the turnover chart on the day with its shares worth Tk 51.74 crore changing hands.
Dragon Sweater, Grameenphone, IFAD Autos, Islami Bank, Lafarge Surma, Square Pharmaceuticals, Doreen Power, National Tubes and BRAC Bank were the other turnover leaders.
Gemini Sea Food increased most with a 5.03-per cent rise in its share prices, while Kay & Que was the worst loser, shedding 5.01 per cent.

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