Latest from Multi News Outlets

Stocks extend gains as political tension eases

test


test

All indexes of the Dhaka and Chittagong stock exchanges (DSE) rose today as investors showed fresh interest in making investments after political tension eased to some extent.

Investors, whose confidence level has already been hit hard by the persisting economic uncertainty at home and abroad, were worried amid rising tensions centring main opposition Bangladesh Nationalist Party’s rally in Dhaka on Saturday. But the event went ahead peacefully.

Thus, the DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose for the second consecutive day today, adding 27 points, or 0.44 per cent, to close at 6,266.

The DSES, the index that represents shariah-based companies, was up 0.60 per cent at 1,372, while the DS30, the blue-chip index, rose 0.36 per cent to 2,213.

Of the issues that traded on the premier bourse in Bangladesh, 74 went up, 17 were down, and 265 did not see any change. 

Turnover rose more than 37 per cent to Tk 568 crore from a day earlier when it stood at Tk 414 crore. This was the highest turnover since November 14 and the first time it went past the Tk 500-crore mark in 13 trading days. 

“The stocks extended the gaining streak as optimistic investors continued their buying spree amid eased political tension,” said International Leasing Securities Limited in its daily market analysis.

The market started the session with a slow movement for a while but it accelerated after the mid-session and the momentum continued till the end since investors continued to make fresh investments in the major stocks. The stocks sustained the buying interest in all the major sectors, said the brokerage house.

Among the sectors, jute rose 7.5 per cent and paper was up 3.8 per cent. On the other hand, tannery and ceramic both fell 0.3 per cent.

Investors’ activity was mostly concentrated on pharmaceuticals, which accounted for 27.2 per cent of the day’s turnover, while the IT sector represented 12.3 per cent and the paper sector made up 9.5 per cent of the total transactions. 

Bangladesh Monospool Paper Manufacturing Company Limited was the top gainer, advancing 8.75 per cent. Jute Spinners, Kohinoor Chemicals Company (Bangladesh), Sonali Aansh Industries, Paper Processing & Packaging, and Anwar Galvanizing all rose more than 8 per cent. 

Eastern Lubricants Blenders suffered the sharpest fall on the day, declining 9.09 per cent. 

Salvo Chemical Industry was the most-traded stock with its shares worth Tk 35 crore transacted. Bashundhara Paper Mills, Intraco Refueling Station, Orion Infusion, and Orion Pharma also saw significant transactions. 

The Caspi, the all-share index of the Chattogram Stock Exchange, edged up 86 points, or 0.47 per cent, to end the day at 18,458.

Of the 142 securities that traded on the bourse in the port city, 43 advanced, 17 declined, and 82 showed no price movement.

Turnover surged nearly 25 per cent to Tk 5.88 crore.





Read More: Stocks extend gains as political tension eases

Leave A Reply

Your email address will not be published.