Q3 earning disclosures boost stock prices

Stocks returned to the green Thursday after two sessions' correction with turnover improved further as encouraging earning declarations of several listed companies created positive vibe among the investors.
Despite the countrywide shutdown, the market opened with an upbeat mood at 10:30am as usual and the upward movement sustained throughout the session amid increased investors' participation.
At the end of the trading session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 5,173.23 points, gaining 63.80 points or 1.24 per cent.
The other two indices also closed in the green. The DS30, comprising blue chips gained 30.15 points or 1.57 per cent to close at 1,949.47 points. The DSE Shariah Index rose 17.19 points or 1.42 per cent to close at 1,202.84 points.
Turnover also broke the recent stalemate, crossing Tk 7.0 billion-mark and amounted to Tk 7.24 billion which was 32.84 per cent higher over the previous session's value of Tk 5.45 billion.
The investors' attention was remained concentrated on power, banks and pharmaceuticals - the sectors that accounted for 22 per cent, 15 per cent and 13 per cent respectively of the day's total turnover.
"Market ended the day with smart gain on the closing day of the week, where investors watched streams of corporate declarations to grip the movement in index," said LankaBangla Securities in an analysis.
Quarterly earnings on financial sector kept the banking stocks in focus, while fuel and power, pharma and other manufacturing stocks also were in buying radar, said the stock broker.
The banking sector gave 0.96 per cent return in market capitalization following to significant growth in Q3 on the top line of some of the banking stocks.  
"The market revamped on bullish streak amidst the investors improved participation," said International Leasing Securities.
The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 106.25 points to close at 9,701.27 points.
Gainers beat losers 148 to 62, with 24 issues remaining unchanged at the port city bourse that traded 15.39 million shares and mutual fund units, turnover value of Tk 541.46 million.

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