Stocks extend gaining streak for third day

Business Report :
Stocks extended the gaining streak on Thursday as investors kept their chase on sector specific small-cap stocks while Square Pharma took off from the floor price after eight months.
Square Pharma’s stock price rose 0.29 per cent to Tk 210.4 on Thursday, as buyers bid for its shares ahead of dividend declaration.

Meanwhile, the SME board index failed to sustain the gaining momentum as the index dropped 28 point t0 1520 on Thursday, after gaining 109 points in the previous day.
After witnessing volatile trading throughout the session, the benchmark index of the Dhaka Stock Exchange went up by 4.31 points and settled at 6,341.

The DS30 Index, which consists of blue-chip companies, gained 2.67 points to 2,197 and the DSES index, which represents Shariah-based companies, rose 4.68 points to 1,379.
The daily trade turnover on the DSE declined by 12 per cent to Tk 7.51 billion as some investors opted to seize quick gain opportunities in sector-specific shares that recently faced sharp corrections.
Fu-Wang Food, a small-cap company, continued to dominate the turnover chart with shares worth Tk 644 million changing hands.

Fu-Wang Food, which took off from the floor a few days back, also the day’s top gainer with 10 per cent gain as some investors continued to chase its stock anticipating quick-buck.
Of the 371 issues traded, 80 closed higher, 106 lower and 185 issues remained unchanged.
The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index – CASPI -gaining 13 points to settle at 18,731.