A file photo shows investors looking at share price movements on a computer screen at a brokerage house in the capital. Dhaka stocks increased on Monday, stretching the gaining streak to the fifth session, as investors continued buying shares, especially those of insurance companies. — New Age photo

Dhaka stocks increased on Monday, stretching the gaining streak to the fifth session, as investors continued buying shares, especially those of insurance companies.

Market operators said the easing of Covid restrictions-related worries among investors contributed to the rally.

DSEX, the key index of the Dhaka Stock Exchange, increased by 0.34 per cent, or 18.48 points, to close at 5,349.91 points on Monday.

The DSEX gained 184.48 points in the last five trading sessions.

Despite a fall in share prices of most of the companies, the market finished in the positive trajectory as a number of large capitalised companies and insurance companies soared on the day, market operators said.

The investors’ focus was mainly on the insurance sector, and the sector drove the positive trend on Monday, they said.

Out of the 46 insurance companies traded on Monday, 44 advanced, just one declined and one remained unchanged.

The insurance sector logged 31 per cent of the day’s total turnover.

Average share prices of general insurance, engineering and energy sectors advanced by 6 per cent, 0.39 per cent and 0.4 per cent respectively.

Among the large capitalised companies, share prices of BEXIMCO, LafargeHolcim Bangladesh, LankaBangla Finance and Square Pharmaceuticals advanced on the day.

The government is enforcing fresh restrictions on public movement and business activities across the country in April 14-21 to check a fresh wave of the Covid-19 outbreak in the country.

However, banks and stock exchanges remain open with shortened working hours in the restriction period that eased restriction-related worries among investors, market operators said.

The turnover on the DSE also advanced to Tk 697.29 crore on Monday from Tk 602.76 crore in the previous session.

Market operators said that share prices of most of the companies dropped on Monday as many investors were assessing the impact of the ongoing Covid restrictions on the country’s economy.

Bangladesh reported an additional 4,271 infections and 112 deaths from Covid-19 on Monday, the highest number of deaths till date.

Considering the situation, a secretary-level committee on Monday decided to extend the ongoing restrictions on movement and overall activities for another week from April 22 to 28.

EBL Securities in its daily market commentary said that the investors’ positive sentiment and increased participation had uplifted the market.

‘Moreover, the regulatory efforts to keep the market open despite lockdown have  largely contributed to tame the investors’ worries while many bargain hunters are taking positions on prospective sectoral stocks,’ it said.

Of the 346 scrips traded on the DSE on Monday, 126 advanced, 152 declined and 68 remained unchanged.

Average share prices of non-bank financial institution, mutual fund and bank sectors dropped by 0.8 per cent, 0.7 per cent and 0.6 per cent respectively.

DS30, a composition of 30 large capitalised companies, added 0.31 per cent, or 6.43 points, to close at 2,046.69 points on Monday.

Shariah index DSES also added 0.38 per cent, or 4.65 points, to settle at 1,216.19 points.

BEXIMCO led the turnover chart with its shares worth Tk 108.24 crore changing hands on the day.

BD Finance, LankaBangla Finance, British American Tobacco Company, LafargeHolcim Bangladesh, Robi, Asia Pacific Insurance, Beximco Pharmaceuticals, Nitol Insurance and Sonar Bangla Insurance were the other turnover leaders on the day.