Stocks gain for 3rd day

Staff Correspondent | Published: 22:47, Dec 03,2020

 
 

Dhaka stocks advanced for the third day on Thursday as investors continued buying shares, especially those of large capitalised companies amid optimism.

DSEX, the key index of the Dhaka Stock Exchange, advanced by 0.81 per cent, or 39.97 points, to close at 4,974.83 points on the day.

Thursday’s index was the highest after October 4 when it was at 4,997.99 points. The DSEX gained 108 points in the last three sessions.

In line with the previous session, the core index started gaining from the very beginning of Thursday’s session and maintained the momentum until the end of the session as investors kept buying shares amid optimism, market operators said.

They said that the investors’ involvement in the market was rising amid hopes over coronavirus vaccine.

A surge in share prices of large capitalised companies contributed most to the gain on the day.

Out of the 30 issues under the DSE30 index traded on Thursday, 24 advanced, three declined and three remained unchanged.

Bangladesh Export Import Company, BRAC Bank, Beximco Pharmaceuticals, Grameenphone and Square Pharmaceuticals soared on the day.

The companies which were stuck in their floor prices due to continued sluggishness on the market and price dilution because of adjustment of bonus dividends began to move upward.

The Bangladesh Securities and Exchange Commission on March 19 introduced the floor price mechanism to check free fall on the market amid the COVID-19 outbreak in the country. The floor price system prevents the price of a company’s shares from falling below a certain level.

The domination of insurance and mutual fund sectors was reduced as investors focused on other sector-specific large capitalised companies.

Share prices of Unilever Consumer Care Limited soared for the seventh day on Thursday after the company’s name was changed to Unilever Consumer Care Limited from GlaxoSmithKline on November 26.

The company shot up by 34 per cent in the last seven days to settle at Tk 2,742.6 a share on Thursday.

The average share prices of non-bank financial institution, pharmaceutical, textile and bank sectors advanced on the day.

Share prices of Dominage Steel Building Systems, which made its debut on Wednesday, shot up by the maximum allowed limit for the second day to settle at Tk 22.5 a share on Thursday.

The turnover on the DSE dropped to Tk 822.63 crore  compared with that of Tk 841.07 crore in the previous session.

DS30, a composition of 30 large capitalised companies, gained 1.22 per cent, or 22.14 points, to close at 1,727.12 points on the day.

Of the 357 scrips traded on the DSE on Thursday, 183 advanced, 93 declined and 93 remained unchanged.

Shariah index DSES added 0.79 per cent, 8.91 points, to settle at 1,135.53 points.

Bangladesh Export Import Company led the turnover chart with its shares worth Tk 42.67 crore changing hands on the day.

Republic Insurance, Beximco Pharmaceuticals, Nitol Insurance, Paramount Textiles, Pragati Insurance, Aman Feed, Silva Pharmaceuticals, Square Pharmaceuticals and National Feed Mills were the other turnover leaders on the day.

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