Stocks extend gaining streak for 6th session, market cap rises by Tk11,500cr
Over the past six sessions, the DSEX has gained 67 points, and the overall market capitalisation has increased by Tk11,537 crore, reaching Tk 6.74 lakh crore
The benchmark index of the Dhaka bourse, DSEX, extended its winning streak for the sixth consecutive session on Thursday, driven by investor optimism for a potential market recovery.
The DSEX rose by 9 points, closing at 5,179, while the blue-chip index, DS30, declined slightly by 1.33 points to settle at 1,912.
During the session, 195 stocks advanced, 147 declined, and 53 remained unchanged.
Market turnover saw a slight dip of 9%, totalling Tk430 crore, compared to Tk470 crore in the previous session.
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Over the past six sessions, the DSEX has gained 67 points, and the overall market capitalisation has increased by Tk11,537 crore, reaching Tk 6.74 lakh crore.
EBL Securities in its daily market commentary, said that the capital bourse ended the week on a positive note, with the benchmark index extending its modest uptrend for six consecutive sessions, riding on investor optimism for a potential market recovery.
"The market witnessed a range-bound trading activity on Thursday with buyers being on the slightly dominant side in chasing sector-specific scrips in anticipation of short-term gains, while cautious investors opted for profit booking in certain scrips and preferred to observe the market's trend," it states.
On the sectoral front, textile issues exerted the highest turnover, followed by pharma and bank sectors.
Eastern Housing led the turnover chart, followed by Bach Hatchery, Orion Infusion, Khan Brothers PP Woven Bag and Khulna Printing and Packaging.
Meanwhile, sectors displayed mixed returns, out of which services, non-bank financial institutions and textiles exhibited the most gains on the bourse, while paper, ceramic and food exerted the most corrections.
Metro Spinning topped the gainers' chart as its share price hit the highest circuit, rising 10% to Tk13.2 per share, despite incurring losses since FY23 and showing no signs of recovery. Other top gainers included Eastern Housing, which saw a 9.91% increase, Esquire Knit Composite with a 9.80% rise, and BD Finance, which gained 9.73%.
Khulna Printing topped the losers' list, with its share price dropping by 9.48% to Tk29.60 per share. The decline followed a directive from the securities regulator asking the Dhaka bourse to investigate the company's recent share price surge and submit an inquiry report within 30 days. Other notable losers included Zahin Textile, Delta Spinners, and Standard Ceramic.
The Chittagong Stock Exchange (CSE) also ended the day in the green, with the Selective Categories Index (CSCX) rising by 42 points and the All Share Price Index (CASPI) gaining 70 points.
