Stocks’ rally continues

Dhaka and Chattogram stock exchanges continued their rally yesterday, helped by investors' persisting buying appetite as they expect strong earnings for the companies whose financial year ended in June.  

The DSEX, the benchmark index of the Dhaka Stock Exchange, rose for the sixth straight session as it jumped 51 points, or 0.79 per cent, to close at 6,508.  

The DSES, the shariah-based index, climbed 0.75 per cent to move past the 1,400-point mark on the day and finally ended at 1,409. The DS30, the blue-chip index, surged nearly 1 per cent to 2,305.

Turnover, one of the important indicators of the market, slipped 5.8 per cent to Tk 1,889 crore.

Gainers outnumbered losers with 172 securities advancing, 131 issues retreating, and 78 scrips remaining unchanged on the premier bourse in Bangladesh.

"Active presence of the bargain hunters in the June-ending stocks helped the benchmark," said International Leasing Securities Ltd (ILSL), a brokerage house, in its daily market review.

All the sectors achieved price appreciation: jute stocks were up 7.2 per cent, services advanced 4.8 per cent, and ceramic added 3.4 per cent.

The travel sector lost 0.7 per cent and the life insurance sector was down 0.1 per cent, according to ILSL.

Investors' activity was mostly centred on pharmaceuticals, which accounted for 14.8 per cent of the day's turnover, and textile, representing 13.5 per cent.

JMI Hospital Requisite Manufacturing Ltd topped the gainers' list, rising 10 per cent.

Eastern Housing, Sonargaon Textiles, Metro Spinning, and Ratanpur Steel Re-Rolling Mills all gained more than 9 per cent.

Beach Hatchery suffered the highest fall, giving up 4.78 per cent, while Nahee Aluminum Composite Panel was down 4.37 per cent.

Nurani Dyeing & Sweater, National Tea Company, Aman Feed, and Union Capital shed more than 3 per cent.

Bangladesh Export Import Company was the most-traded stock on the day, with its shares worth Tk 124 crore changing hands.

Eastern Housing, Orion Infusion, Orion Pharma, National Polymer Industries, and LafargeHolcim Bangladesh also saw significant turnover.    

The Caspi, the all-share price index of the Chittagong Stock Exchange (CSE), soared 150 points, or 0.79 per cent, to end the week at 19,156, the rise for the sixth consecutive day.

On the bourse in the port city, 150 securities went up, 106 fell, and 55 saw no price movement.

Turnover stood at Tk 65 crore, down from Tk 70.69 crore a session ago.

With yesterday's rise, the DSE capped a winning week.

The market opened the week on an upbeat note and the momentum sustained till the end.

The DSEX added 153.5 points in the five sessions. Average turnover rose 37.22 per cent from a week ago.