Stocks post modest gain

Stocks posted a modest gain on Monday riding on the news of finance minister's meeting with the stakeholders to find out ways to boost the capital market.
DSEX, the prime index of the Dhaka Stock Exchange, went up by 17.49 points or 0.35 per cent to settle at 4,959 over the previous day.
Market analysts said Finance Minister's meeting with the capital market stakeholders propelled optimistic investors to take position on lucrative large-cap issues.
Five large-cap companies - BATBC, Grameenphone, BRAC Bank, ICB and Renata-jointly added 29 points on Monday.
A leading broker said many good stocks have become lucrative following recent sharp correction which also encouraged some investors to take position.
He, however, noted that most of the institutional investors cannot invest in the market as they are suffering from a liquidity crunch.
Two other indices also edged higher. The DS30 index, comprising blue chips, advanced 16.81 points to finish at 1,755 and the DSE Shariah Index gained 1.36 points to close at 1,155.
Turnover, a crucial indicator of the market, also rose to Tk 3.89 billion on the country's premier bourse, rising 23 per cent over previous session's mark of Tk 3.17 billion.
According to EBL Securities, Finance Minister's meeting with the capital market stakeholders helped the session to close higher.
The stockbroker noted that investors showed appetite to take position on good stocks' lucrative price due to the recent price correction.
Large-cap stocks' (BATBC, GP and BRAC) price appreciation also contributed to the positive trend of the market, said the stockbroker.
International Leasing Securities said the investors showed their appetite food, telecom, banking, pharma and financial institutions sectors stocks, which helped the market closed higher.
Accordingly, food sector booked the highest gain of 4.43 per cent as the sector heavyweight BATBC soared 5.84 per cent alone, followed by telecommunication with 0.86 per cent, financial institutions 0.50 per cent, banking 0.21 per cent and pharmaceuticals 0.20 per cent.
On the other hand, power and engineering lost 0.23 per cent and 0.11 per cent respectively.
A total number of 118,463 trades were executed in the day's trading session with trading volume of 90.51 million shares and mutual fund units.
The market-cap of the DSE stood at Tk 3,714 billion on Monday, from Tk 3,695 billion in the previous session.
Gainers took a modest over the losers as out of 353 issues traded, 161 closed higher, 136 ended lower and 56 remained unchanged on the DSE trading floor.
Monno Jute Stafflers topped the turnover chart with shares worth nearly Tk 335 million changing hands, followed by National Tubes, Stylecraft, Monno Ceramic and Beacon Pharma.
GQ Ball Pen was also the day's best performer, posting a gain of 9.85 per cent while SEML FBLSL Growth Fund was the day's worst loser, plunging by 9.30 per cent.
The port city's bourse, the Chittagong Stock Exchange, also ended higher with its All Shares Price Index (CAPSI) -- CASPI-rising 89 points to close at 15,062 and the Selective Categories Index - CSCX - gaining 54 points to finish at 9,146.
Here too, the gainers beat the losers as 125 issues closed higher; 86 lower and 36 remained unchanged on the CSE.
The port city bourse traded 5.35 million shares and mutual fund units worth Tk 335 million in turnover.

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