Stocks extended the rally on Thursday, with the key index of the major bourse crossing the 7100-mark after three months, as buoyant investors continued to bet on shares, shrugging off Omicron worries.
DSEX, the prime index of Dhaka Stock Exchange (DSE), went up by 16.26 points or 0.22 per cent to settle at 7,105, the highest in three months since October 17, 2021.
DSEX added about 109 points in the past six consecutive sessions.
Market analysts said stocks extended their rally as the optimistic investors continued to bet in sector specific stocks despite rising coronavirous cases and death in the country.
"Ahead of the upcoming earnings declaration, the buoyant investors showed their buying spree in a few sector-specific issues," commented EBL Securities
Beximco, one of the large-cap firms, led the market momentum, adding over 12 points to the DSEX alone, said the stockbroker.
Five large-cap stocks such as Beximco, Beximco Pharma, Linde Bangladesh, Square Pharma and Keya Cosmetics jointly added 21 points to the DSEX, according to amarstock.com, a market data analyst.
Most of the investors focused on sector specific issues those were trading at a very lucrative price level despite the fact that Covid-19 cases are rising in the country, according to a leading broker.
The investors also showed their buying appetite in a few sector-specific issues ahead of the forthcoming earning declarations, he said.
The DSE 30 Index, comprising blue chips, also rose 18.07 points to finish at 2,635. However, the Shariah Index (DSES) saw a fractional loss of 0.75 point to close at 1,508.
Turnover, a crucial indicator of the market, stood at Tk 16.07 billion, which was 7.38 per cent lower than the previous day's tally of Tk 17.35 billion.
The investors' activity was mostly concentrated on miscellaneous, capturing over 21 per cent of the day's total turnover, followed by pharmaceuticals (12 per cent) and engineering (10 per cent).
Major sectors showed mixed performances with miscellaneous saw the highest gain of 2.80 per cent, followed by pharma with 0.50 per cent, general insurance 0.50 per cent and food 0.10 per cent.
On the other hand, engineering, financial institutions, telecom and power lost 2.20 per cent, 0.60 per cent, 0.40 per cent and 0.20 per cent respectively.
Losers took a modest lead over the gainers, as out of 378 issues traded, 174 declined, 162 advanced and 42 issues remained unchanged on the DSE floor.
Beximco, which gained 5.74 per cent, was the most traded stock with shares worth Tk 2.46 billion changing hands, followed by Bangladesh Shipping Corporation (Tk 714 million), Fortune Shoes (Tk 413 million), Saif Powertec (Tk 400 million) and ACI (Tk 348 million).
Low performing companies continued to dominate the gainers' list. Keya Cosmetics was the day's top gainer, posting a 10 per cent rise while the 'Z' category Tallu Spinning Mills was the worst loser, losing 25.01 per cent following its no dividend declarations news.
The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index - CASPI -gaining 65 points to settle at 20,817 and the Selective Categories Index - CSCX-advancing 39 points to close at 12,504.
Of the issues traded, 130 declined, 125 advanced and 53 remained unchanged on the CSE.
The port-city bourse traded 15.69 million shares and mutual fund units with a turnover value of Tk 441 million.
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