Dhaka stocks perk up for fifth straight session

FE Reportbr=Dhaka stocks perked up, led by power and energy issues, Wednesday for the fifth straight session with continued rise in the turnover.brThe Dhaka Stock Exchange (DSE) opened with an upbeat mood, pushing the main index nearly 30 points around mid session. Later, it shed some points towards close of the trade on profit taking. brAll the market barometers - the benchmark DSE General Index (DGEN), All Shares Price Index(DSI) and DSE-20 comprising blue chips gained 14.86 points, 11.01 points and 10.59 points to end at 2859.52, 2421 .53 and 2448.12 respectively.brRetail investors continued to dominate the market, a DSE source said. brThe gainers took a strong lead over the losers. Out of total 228 issues traded on the day, 126 gained, 95 declined and seven remained unchanged. brThe market rose on rumours rather than fundamentals, which is not sustainable, according to the market operators. brUsually, the market remains sluggish during Ramadan, the holy fasting month, but this time it looks different, which is not clear to me, an analyst said. brBut again the investors are running after overvalued stocks, making their investment riskier, he added. brThe day's total turnover rose to Tk 3.87 billion against the previous day's Tk 3.76 billion. The total market capitalisation also rose to Tk 999.03 billion from Tk 995.00 billion.br