Stocks extend gaining spell for fifth session
Investors' increased participation pushed DSE turnover 0.51% higher to Tk848 crore
Stocks maintained their gaining spell for a fifth consecutive day, with DSEX gaining 0.58% on Monday.
Analysts have found the year-end market optimism an added catalyst on top of recent positive news that includes: an increase in export earnings, declined inflation, narrowed interest spread in the banking industry, and investment limit capping in national savings schemes.
At the end of the second session of the week, DSEX, the broad-based index at the Dhaka Stock Exchange (DSE) closed at 5,053.49 points.
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Investors' increased participation pushed DSE turnover 0.51% higher to Tk848 crore.
Banking stocks were deemed to be in investors' notice as some of the listed lenders are expected to disclose satisfactory corporate declarations at the end of this year, stated the daily market review of EBL Securities Ltd.
Most of the sectors displayed a winning performance on Monday, out of which services and real-estate gained 2.4%, the miscellaneous sector 1.8% and the cement sector 1.5% in market capitalisation.
On the other hand, the IT sector lost 1.5%, financial institutions 1.2% and paper and printing 0.6% on average.
Investors' participation was mostly concentrated on the general insurance sector with contributing the highest 15.47% to the day's total turnover.
The sector was followed by banks contributing 13.76% and pharmaceuticals 11.91% to the total turnover.
Out of the 353 issues traded, 126 advanced, 140 declined, and 87 remained unchanged on the DSE trading floor.
Investors' increased focus in selective stocks from different sectors has been reflected in additional gains of the blue-chip index DS30 and the Shariah index DSES.
Meanwhile, turnover at the Chittagong Stock Exchange (CSE) nearly doubled and was Tk44 crore on Monday, which was less than Tk25 crore on Sunday.
All indices except the Shariah-based one at the port city bourse gained in proportion to their counterparts at the capital city bourse.
Of the traded 269 securities at the CSE, 98 gained, 115 lost and 56 remained unchanged on Monday.
