Stocks rise for 3rd day

Staff Correspondent | Published: 22:45, Jun 10,2021

 
 

Dhaka stocks increased for the third day on Thursday as investors, encouraged by a rally on the market, kept buying shares.

DSEX, the key index of the DSE, increased by 0.19 per cent, or 11.59 points, to close at 6,066.64 points on Thursday.

The DSEX gained 90.73 points in the last three days.

Thursday’s index was the highest after February 14, 2018 when it was at 6,102.3 points.

The key index started with a bullish momentum, gaining 55 points within the first 15 minutes of Thursday’s session as investors went for buying following a market rally, market operators said.

They said that the market, however, slowed in late trading to finish with a brief gain as a section of investors went for profit booking.

After a continued surge in insurance companies’ share prices, a section of investors went for realising profits from the scrips, they said.

EBL Securities in its daily market commentary said, ‘The hyped-up insurance sector observed an immense selling pressure on the bourse on Thursday as the stocks were priced at an exorbitant level.’

Average share prices of general insurance, non-bank financial institution and bank sectors dropped by 3.05 per cent, 1.23 per cent and 0.88 per cent respectively after their recent gains.

Share prices of textile, telecommunication and miscellaneous sectors advanced by 3.57 per cent, 1.37 per cent and 1.05 per cent respectively.

The DSE market capitalisation hit an all-time high on Thursday as it reached Tk 5.099 lakh crore.

Turnover on the DSE declined slightly to Tk 2,669.25 crore on Thursday from Tk 2,700.5 crore in the previous session.

A surge in share prices of BEXIMCO, Mir Akhter Hossain, Grameenphone, Robi and BSRM Limited contributed most to the gains on Thursday.

The Bangladesh Securities and Exchange Commission on June 3 withdrew floor price restrictions on 30 more companies and set downward price change limit at maximum 2 per cent.

Share prices of most of them declined for the fifth day on Thursday.

Of the 366 scrips traded on the DSE on Thursday, 209 advanced, 149 declined and 9 remained unchanged.

DS30, a composition of 30 large capitalised companies, added 0.11 per cent, or 2.47 points, to close at 2,205.09 points on Thursday.

Shariah index DSES added 0.24 per cent, or 3.23 points, to settle at 1,299.48 points.

BEXIMCO led the turnover chart with shares worth Tk 229.11 crore changing hands on the day.

LankaBangla Finance, Pioneer Insurance, Fortune Shoes, National Polymer, National Feed Mills, Dragon Sweater, Sadhani Life Insurance, Ring Shine Textiles and Alif Manufacturing Company were the other turnover leaders on the day.

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