Stocks keep gaining for fourth straight day

DSEX adds 90 points in four straight sessions

FE REPORT | Wednesday, 4 November 2020

Stocks extended the gaining streak for the fourth straight sessions on Tuesday as bargain hunters continued their buying binge on sector-wise issues based on corporate declarations.
DSEX, the key index of the Dhaka Stock Exchange, went up by 9.63 points or 0.19 per cent to settle at 4,928. The key market barometer added nearly 90 points in the past four consecutive sessions.
Two other indices also edged higher. The DS30 index, comprising blue chips, gained 3.38 points to finish at 1,702 and the DSE Shariah Index advanced 3.33 points to close at 1,115.
Market operators said bargain hunters continued their buying appetite on sector specific issues based on latest corporate declarations, keeping the market index afloat.
Investors were active, particularly on stocks declaring satisfactory dividend and quarterly earnings, said a leading broker.
The investors continued their buying appetite riding on some of the positive macro-economic indicators amid Covid-19 pandemic, commented International Leasing Securities.
According to EBL Securities, some investors remained watchful on their investment decision fearing another shock in the coming months as the Covid-19 infection has already hit the second wave in major export destinations of the country.
Turnover, a crucial indicator of the market, stood at Tk 7.95 billion, which was nearly 11 per cent lower than the previous day's turnover of Tk 8.92 billion.
Losers, however, took a modest lead over the gainer, as out of 356 issues traded, 170 ended lower, 110 closed higher while 76 issues remained unchanged on the prime bourse.
A total number of 163,572 trades were executed in the day's trading session with a trading volume of 334.22 million shares and mutual fund units.
The market capitalisation of DSE fell to Tk 3,950 billion on Tuesday, from Tk 3,956 billion in the previous day.
Beximco Pharma topped the turnover list with 5.82 million shares worth Tk 741 million changing hands, followed by Bangladesh National Insurance, Asia Pacific Insurance, Brac Bank and Asia Insurance.
Shinepukur Ceramic was the day's best performer, posting a gain of 10 per cent while Zeal Bangla Sugar Mills was the worst loser, losing 9.93 per cent.
The Chittagong Stock Exchange also edged higher with its All Shares Price Index (CASPI)-gaining 58 points to close at 14,126 while the Selective Categories Index - CSCX advancing 35 points to close at 8,495.
Of the issues traded, 123 declined, 97 advanced and 45 issues remained unchanged on the CSE.
The port city bourse traded 11.81 million shares and mutual fund units with turnover value of Tk 285 million.

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