The Financial Express

Stocks keep rising to hit new peaks

| Updated: October 05, 2021 16:13:02

Stocks keep rising to hit new peaks

Stocks extended the winning with three indices of the Dhaka Stock Exchange (DSEX) hit new highs on Sunday, despite most of the issues lost prices.

The market opened on a positive note and an upbeat trend sustained till the end of the session as the buoyant investors continued to put fresh bets on major sector stocks, particularly on blue-chip stocks.

DSEX, the prime index of the DSE, went up by 27 points or 0.36 per cent to settle at 7,356–the highest since its inception nearly nine years back on January 27, 2013.

Two other indices followed suit to close at their historical highs. The DSE 30 Index, comprising blue-chip, jumped 31.18 points to finish at 2741 and the DSE Shariah Index (DSES) gained 1.87 points to finish at 1,593.

The DS30 Index was also launched on January 27, 2013, while the DSE Shariah-compliant Index was introduced on January 20, 2014.

Turnover, another important indicator of the market, stood at Tk 24.39 billion on the prime bourse, which was 2.58 per cent lower than the previous day’s tally of Tk 25.02 billion.

Market analysts said stocks extended the rally for the five consecutive sessions as buoyant investors are putting fresh bets on major stocks anticipating positive momentum ahead.

However, more than 57 per cent of traded issues saw the price fall as out of 376 issues traded, 216 closed lower, 109 higher and 51 issues remained unchanged on the DSE trading floor.

LafargeHolcim Bangladesh topped the DSE turnover list for the three consecutive days with shares worth Tk 1.29 billion changing hands, closely followed by Beximco (Tk 1.14 billion), Orion Pharma (TK 1.09 billion), LankaBangla Finance (Tk 806 million) and Delta Life Insurance (Tk 578 million).

Fortune Shoes was the day’s top gainer, posting a 9.17 per cent gain while eastern Insurance was the worst loser, losing 9.97 per cent.

The Chittagong Stock Exchange (CSE), also ended higher with the CSE All Share Price Index – CASPI –gaining 133 points to settle at 21,510 and the Selective Categories Index – CSCX rising 81 points to close at 12,917.

Of the issues traded, 177 declined, 118 advanced and 26 remained unchanged on the CSE trading floor.

The port city’s bourse traded 20.87 million shares and mutual fund units with a turnover value of Tk 790 million.

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