Stocks extend gaining streak

Recovery momentum in the country’s capital bourse Today as bargain hunters continued to take positions in selective major scrips amid attractive valuations.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) rose by 13.5 points to close at 5,243 against 5,230 in the previous trading session, reports BSS.

Market analysts said the market maintained a positive momentum throughout most of the session, supported by sustained buying interest in selective large-cap stocks and accumulation in some banking shares ahead of quarterly earnings declarations.

Turnover, however, declined by 22.3 percent to Taka 860crorefrom the previous session’s Taka 1100 crore, when a large block transaction involving BRAC Bank PLC boosted overall market activity.

Among the major sectors, General Insurance accounted for the highest share of turnover at 17.5 percent, followed by Textile at 12.7 percent and Pharmaceuticals at 12.1 percent.

The IT sector posted the highest gain, advancing 2.5 percent, followed by General Insurance with 2.1 percent and Financial Institutions with 1.0 percent gains.

In contrast, Mutual Funds and Jute sectors each declined by 2.3 percent, while Life Insurance fell by 0.8 percent.Out of the 396 issues traded on the DSE, 147 advanced, 184 declined and 65 remained unchanged.

Meanwhile, the Chittagong Stock Exchange PLC closed in the red. The Selective Categories’ Index (CSCX) lost 8.8 points, while the All Share Price Index (CASPI) fell by 13.1 points at the close of trading.