Dhaka stocks continue to rally

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FE Report
Dhaka stocks continued to rally Wednesday for the fifth consecutive session, led by leasing issues with an increase in the turnover.
The market opened on a positive note and pushed the main index up by over 36 points in the mid-session. Later, it shed some points on profit taking until the end of trading.
All the Dhaka Stock Exchange (DSE) barometers - the benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE-20 index comprising blue chips-climbed 24.89 points, 19.45 points and 38.07 points to close at 2925.45, 2463.78 and 2432.62 respectively.
Both institutional and retail investors bought shares on the day to take profit in days to come, a DSE source said.
The gainers took a strong lead over the losers on the day, as of the total 224 issues traded on the day, 143 gained, 72 declined and nine remained unchanged.
The market moved into the positive territory as the investors ran after stocks ahead of the prime bourse's nine-day closure on the occasion of the Eid festival starting from Friday next, according to the market operators.
But an analyst, preferring not to be named, said investors have defied the usual festival-time behaviour, showing a mentality of high-stake gambling to recoup their losses.
Usually, before Eid the investors withdraw funds from the market for meeting their festival expenses, but this time it looks different, he added.
The day's total turnover rose to Tk 4.30 billion against the previous day's Tk 3.53 billion. The market capitalisation remained steady at Tk 1.02 trillion.
The share price of Beximco Pharma, the day's eighth top gainer, rose 7.41 per cent to close at Tk 130.40, making it the turnover leader with shares worth Tk 429.71 million traded.
Beximco Limited was the second turnover leader with shares worth Tk 340.04 million changing hands. Its share price climbed 3.37 per cent to end at Tk 201.90.
The next other turnover leaders were ACI Limited, Titas Gas, GrameenS2, AIMS 1st Mutual Fund, ICB AMCL 2nd NRB Mutual Fund, Summit Power, Prime Finance and Investment, and Lankabangla Finance Limited.
The share price of the Eastern Cables had the biggest gain of 14 per cent, followed by Agni System Limited with 13.55 per cent, Ambee Pharma 12.18 per cent, Aramit 9.48 per cent, BD Welding 9.34 per cent, BSC 9.24 per cent, Golden Son 8.06 per cent, GlaxoSmithKlin 7.51 per cent and ACI Limited 7.17 per cent.
BLTC, Padma Print, Anlima Yarn, Pragati Life Insurance, Janata Insurance, Chittagong Vegetables and Libra Infusion were the top losers.