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The Financial Express

Stocks edge higher for second day

| Updated: December 03, 2017 13:07:25


Stocks edge higher for second day

Stocks extended the gaining streak for the second day in a row on Thursday as some optimistic investors showed their buying appetite on bank and telecom issues.

However, turnover, the crucial indicator of the market, fell further and total turnover on the major bourse amounted to Tk 6.20 billion, which was 8.68 per cent lower than the previous day’s Tk 8.13 billion.

Analysts said investors were mostly inactive and not confident enough to put in fresh funds, taking the market turnover nearly one-month low since November 5, when turnover was recorded Tk 5.38 billion.

The market started with a positive note and the upward trend sustain till end of the session with no sign of reversal, finally ended more than 28 closed higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 6,307, after advancing 28.30 points or 0.45 per cent over the previous day.

The DS30 index comprising blue chips also advanced 9.10 points or 0.40 per cent to close at 2,270.

However, the Shariah Index (DSES) ended 0.06 point lower to finish at 1,381.

The banking sector kept its dominance over the turnover chart, capturing 30 per cent of the day’s total transaction, followed by engineering with 13 per cent and textile 10 per cent.

The losers took a slight lead over the gainers as out of 321 issues traded, 140 closed lower, 139 closed higher and 42 remained unchanged on the DSE trading floor.

Brac Bank topped the turnover chart with 4.17 million shares of nearly Tk 455 million changing hands, followed by Standard Bank, Square Pharma, AB Bank and Grameenphone.

Northern Jute Manufacturing was the day’s best performer, posting a gain of 7.01 per cent while Savar Refcatories was the day’s worst loser, plunging by 8.62 per cent.

The port city bourse Chittagong Stock Exchange (CSE) also closed higher with CSE All Shares Price Index (CAPSI) of port city bourse -- CAPSI -- advancing 88 points to close at 19,420.

The Selective Categories Index - CSCX – also rose 55 points to finish at 11,804.

Losers beat gainers as 123 issues closed lower, 94 closed higher and 32 remained unchanged on the CSE.

The port city bourse traded 11.20 million shares and mutual fund units worth more than Tk 308 million in turnover.

 

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