DSE shines on robust Q3 results

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Australian High Commissioner in Bangladesh Greg Wilcock seen talking to the Editor of the Financial Express (FE) Moazzem Hossain during a courtesy visit to the newspaper office Monday. The FE Executive Editor Shahiduzzaman Khan, Deputy Editor Shamsul Huq

FE Report
The capital's equity market rallied for the sixth straight week that closed Thursday, with its turnover and indices hitting new highs.
Stock dealers saw positive third quarter earnings and continued fresh fund injection as the reasons behind the Dhaka Stock Exchange's upswing over the week.
The benchmark index DSE General Index (DGEN) crossed 7900-mark for the first time in the week, ending at fresh high of 7937.05 with a rise of 4.22 per cent or 321.67 points.
The broader All Shares Price Index (DSI) was up by 4.20 per cent or 265.82 points to 6592.29. The DSE-20 comprising blue chips rose 1.14 per cent or 51.27 points to finish at 4531.31.
Almost all the major sectors finished in the positive territory in the week, led by banks and non-banking groups.
Banking issues, which make up one-third of the market capitalisation, rebounded this week after rising nearly six per cent after edging down in the previous week.
Non-banking institutions soared 4.12 per cent as they widened their consecutive two weeks of gain.
Insurers were also among the gainers with general insurances gaining 2.66 per cent and life insurances 0.87 per cent.
Fuel and power sector advanced 4.61 per cent, pharmaceuticals 1.21 per cent and cement 1.75 per cent.
Telecommunications sector was the only major sector to finish at negative terrain as top mobile operator Grameenphone declined 2.84 per cent. Mutual funds fell 2.57 per cent.
"The positive third quarter earnings and persistent fresh fund flow have made the market more bullish this week," said a merchant banker.
Rally in the financial sector was supported by third quarter earnings of the companies that showed a positive growth, most of which coming from investment in the stock market.
Turnover recorded a new all-time high on the closing day (Thursday) of the week with total turnover exceeding the Tk 29.0 billion-mark.
In the week, turnover stood at Tk 26.20 billion, up by 28 per cent over the previous week. Out of 248 issues traded, 154 gained, 92 declined, one remained unchanged and one was not traded.
Titas Gas was the top turnover leader with shares worth Tk 6.52 billion changing hands.
Prime Finance, Peoples Leasing and Fin Services, United Commercial Bank, Beximco, Lankabangla Finance, Social Islamic Bank Ltd., AB Bank, Shahjalal Islami Bank, Bay Leasing & Investment Ltd. were the other turnover leaders.
Mithun Knitting was the week's top gainer, posting a rise of 62.92 per cent, followed by Pharma Aids, Monno Ceramic, Phoenix Insurance, Shinepukur Ceramics, Bay Leasing and Investment Ltd and Kohinoor Chemicals.
The week's top losers included EXIM Bank, Metro Spinning, Dacca Dyeing, 3rd ICB Mutual Fund, National Tea, Miracle Industries, Apex Spinning and Malek Spinning Mills.