Stocks extend positive momentum
The turnover yesterday was Tk514.4 crore, up 17 percent from Tk438.4 crore in the previous session.
The momentum of gain in the stock market indices carried over from yesterday as investors displayed their buying appetite on large-cap sectors.
The key index of the Dhaka Stock Exchange, DSEX gained 74 points or 1.7 percent to close yesterday at 4,514 points.
DSES, the Shariah-based index, went up 17 points or 1.7 percent to stand at 1,035 points while DS30, the index the blue-chips index, advanced 24 points or 1.6 percent to stand at 1,543 points.
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At the port city bourse, CASPI – the benchmark index – gained 210 points or 1.6 percent to close at 13,744 points.
Investors projected confidence backed by the Bangladesh Bank's proposal to the finance ministry for a Tk10,000 crore refinancing fund in line with stock brokers' demand to stabilise the market, according to the Daily Market Review of EBL Securities Ltd.
The market started the day yesterday in an upward trend and continued the positive momentum till the close, added the report.
The turnover yesterday was Tk514.4 crore, up 17 percent from Tk438.4 crore in the previous session.
Engineering stocks contributed the highest, 16.3 percent, to the total turnover value followed by pharmaceutical stocks, adding 12.6 percent and general insurance stocks adding 11.7 percent.
Most of the sectors exhibited gains yesterday, with service and real estate topping the sector return board with a 6.2 percent price appreciation.
The financial institution was the only sector witnessing correction yesterday, losing 0.5 percent price.
Among the large-cap sectors, pharmaceutical stocks gained 1.7 percent despite the 0.1 percent price slide in Square Pharma shares. Telecom stocks witnessed 1.3 percent price appreciation along with a 1.8 percent advancement in Grameenphone's share price, and bank stocks posted a gain of 0.4 percent.
Lafarge Holcim Bangladesh Ltd was again the most traded stock with a turnover value of Tk31.2 crore, closing the day at Tk44.8 per share. The stock was followed by another large-cap stock Square Pharma with a turnover value of Tk19.3 crore, closing at Tk198.9 per share.
Reliance Insurance Ltd topped the gainers' table advancing 10 percent, closing at Tk41.8 per share, while Premier Cement Mills Ltd was the day's worst loser shedding 7.3 percent and closing at Tk46.7 per share.
Gainers sharply outnumbered the losers as out of 356 issues traded, 280 advanced, 44 declined and 32 remained unchanged on the DSE trading floor.
