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The Financial Express

Stocks extend gaining streak amid optimism

FE Online Report | Published: February 17, 2020 16:54:13 | Updated: February 17, 2020 18:30:07


Stocks extend gaining streak amid optimism

Stocks extended the winning streak for the fifth straight session on Monday as investors continued their buying binge on sector-wise shares.

DSEX, the prime index of the Dhaka Stock Exchange, continued to hold its soaring momentum, rising 33.98 points or 0.71 per cent to settle at three months high at 4,768.

Turnover, an important indicator of the market, stood at Tk 9.84 billion on the country’s premier bourse, climbing further by 6.55 per cent over previous day’s mark of Tk 9.16 billion.

It was the biggest single-day transaction in more than one year since February 3, 2019, when the turnover totaled a record Tk 9.84 billion.

Market analysts said liquidity support fund by the Bangladesh Bank and interest rate cut on post office savings scheme has paved the way for new investment in the market, taking the market turnover further rise.

Two other indices also closed higher. The DS30 index, comprising blue chips, advanced 6.68 points to finish at 1,599 and the DSE Shariah Index rose 7.95 points to close at 1,083.

Gainers took a strong lead over the losers as out of 355 issues traded, 195 closed higher, 128 ended lower and 32 remained unchanged on the DSE trading floor.

A total number of 221,329 trades were executed in the day’s trading session with trading volume of 382.38 million shares and mutual fund units.

The market-cap of the DSE also rose to Tk 3,571 billion, from Tk 3,555 billion in the previous session.

LafargeHolcim topped the turnover chart with shares worth Tk 375 million changing hands, followed by Khulna Power, Orion Infusions, ADN Telecom and Orion Pharma.

Rupali Life Insurance was the day’s best performer, posting a gain of 9.95 per cent while Shympur Sugar Mills was the worst loser, losing 8.38 per cent.

The Chittagong Stock Exchange also ended higher with its All Shares Price Index (CASPI)—gaining 93 points to close at 14,530 and the Selective Categories Index - CSCX –rising 58 points to finish at 8,816.

Here too, the gainers beat losers, as 155 issues closed higher, 87 ended lower and 31 remained unchanged on the CSE.

The port city bourse traded 16.96 million shares and mutual fund units worth Tk 325 million in turnover.

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