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The Financial Express

Stocks extend rally for third straight days

| Updated: June 14, 2021 16:21:47


Stocks extend rally for third straight days

Stocks extended their rally for the third straight sessions on Thursday as enthusiastic investors continued to put fresh bets on sector-specific issues.

Following the previous day’s record turnover, the market opened sharply higher and the key index of the major bourse rose 58 points, crossing the 6,100-mark in early trading. But eroded most of the early gains amid profit booking sell-offs.

Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 11.59 points or 0.19 per cent to settle at 6,066, which is the highest level of DSEX in more than three years since February 4, 2018, when DSEX was 6,102.

DSEX added more than 91 points in the past three consecutive sessions.

The market capitalisation of the DSE also soared to an all-time high at Tk 5,099 billion on Thursday, surpassing the previous day’s record high of Tk 5,097 billion, thanks to increased investor participation.

Two other indices also edged higher with the DSE 30 Index, comprising blue chips, advanced 2.47 points to finish at 2,205 and the DSE Shariah Index (DSES) gained 3.23 points to close at 1,299.

Turnover, a crucial indicator of the market, stood at Tk 26.69 billion on the country’s premier bourse, which was 1.15 per cent lower than the previous day’s decade high of Tk 27 billion.

Gainers took a strong lead over the losers, as out of 367 issues traded, 209 advanced, 149 declined and 9 issues remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- continued to dominate the turnover chart with shares worth Tk 2.29 billion changing hands, followed by LankaBangla Finance (Tk 550 million), Pioneer Insurance (Tk 487 million), Fortune Shoes (Tk 475 million) and National Polymer (Tk 414 million).

Zaheen Spinning was the day’s top gainer hitting the upper limit circuit breaker with a 10 per cent gain, while Dhaka Insurance was the worst loser, losing 11.50 per cent despite its dividend declaration news.

A total number of 367,634 trades were executed in the day’s trading session with a trading volume of 856.39 million shares and mutual fund units.

The Chittagong Stock Exchange (CSE) also ended high with the CSE All Share Price Index – CASPI –rising 69 points to settle at 17,585 and the Selective Categories Index – CSCX gaining 39 points to close at 10,594.

Of the issues traded, 175 advanced, 120 declined and 24 issues remained unchanged on the CSE.

The port city’s bourse traded 38.20 million shares and mutual fund units with a turnover value of Tk 1.15 billion.

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