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The Financial Express

Stocks stay upbeat as bank shares surge

| Updated: November 22, 2021 09:15:13


Stocks stay upbeat as bank shares surge

Stocks ended higher on Thursday, maintaining the gaining streak for the fourth straight session, as investors showed buying interest in the banking sector issues.

After witnessing throughout the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 31.04 points or 0.43 per cent to settle at 7,091. DSEX added more than 161 points in the past four consecutive sessions.

The DSE 30 Index, comprising blue chips, also ended 11.65 points higher to finish at 2,694. However, the DSE Shariah Index (DSES) fell 3.81 points to close at 1,480.

Turnover, a crucial indicator of the market, stood at Tk 14.61 billion, which was 3.05 per cent lower than the previous day’s tally of Tk 15.07 billion.

Market analysts said the optimistic investors continued their buying interest in banking sector stocks ahead of their year-end as many bank issues are still lucrative.

Losers took a modest lead over the gainers, as out of 341 issues traded, 159 declined, 152 advanced and 30 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- was the most traded stock with shares worth Tk 1.55 billion changing hands, closely followed by Fortune Shoes (Tk 938 million),  Delta Life Insurance (Tk 892 million), IFIC Bank (Tk 783 million) and NRB Commercial Bank (Tk 771 million).

Tung Hai Knitting & Dyeing, a Z category company, was the day’s top gainer, rising 10 per cent while Kattali Textile was the worst lower, losing 9.73 per cent.

The Chittagong Stock Exchange (CSE) also ended higher with the CSE All Share Price Index – CASPI –gaining 81 points to settle at 20,723 and the Selective Categories Index – CSCX, rising 49 points to close at 12,459.

Of the issues traded, 130 advanced, 108 declined and 26 remained unchanged on the CSE.

The port city’s bourse traded 18.59 million shares and mutual fund units with a turnover value of Tk 535 million.

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