Dhaka stocks rise for 10th session in a row

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FE Report
Dhaka stocks, lifted by financials, logged their 10th consecutive session gain Wednesday, the longest winning streak in 10 months, to close at more than one per cent higher.
The DSE General Index (DGEN), the main gauge of the market, surged by 1.16 per cent or 85.29 points to reach at a fresh high of 7412.60.
The DGEN added more than 500 points during the last 10 days rally. It was the best run since December 2009-January 2010 when the stocks had risen for 15 consecutive sessions.
The broader All Shares Price Index (DSI) was up by 1.31 per cent or 80.26 points to 6170.26. The DSE-20 Index comprising blue chips gained 1.03 per cent or 70.28 points to 4372.88.
"Actually, fund flow has been continuously pushing the market upward," said RY Shamsher, head of AB Investment Bank Ltd.
"The investors with available fund are chasing the existing stocks, finding no other alternatives," he added.
Experts, however, rang warning bell many times to make the investors alert about the market's seemingly unending rise.
"The investors should be careful before picking up any stocks and bear in mind that every rising market has the end," said an analyst. The days are not far when the latecomers will burn their fingers, he added.
Bank, non-banking financial institution, insurance, pharmaceuticals, cement, and fuel and power sectors closed in the positive terrain.