Dhaka Stock extends gaining streak

Dhaka Stock Exchange extended its gaining streak for the third consecutive session as investors focused on bank shares. DSEX, the key index of DSE, registered 11 points gain ending at 5,736 points. DSE Shariah-based index closed flat at 1,301 points, while DS30, the blue chip index gained by 11 points finishing the session at 2,077 points. The stocks finished modestly higher on Wednesday amid upward optimism from the investors, said International Securities Limited in its market review. In the last two sessions, the marginally positive trend lured the investors to pursue for buoyancy while some shaky investors booked quick gain over the last few sessions’ price surge, said the merchant bank. Investors’ activities were mostly focused on banking sector issues which contributed 32.5% of the day’s total turnover while the turnover edged marginally higher over the last session, it added. IDLC Investment in its regular market commentary said: “Market participation remained encouraging amounting to a total turnover of Tk1,290 crore. The Bank sector significantly dominated the turnover chart for the eighth consecutive session, seizing 32.5% of the day’s total trade value.” The daily turnover at the DSE stood at Tk1,290 crore, which was Tk1,263 crore in the previous year. Out of 329 traded securities, 141 advanced, 139 declined and 49 remained unchanged. Among the major sectors, Non-Bank Financial Institutions went up by 1.8%, the highest return riding on the advancement of the Investment Corporation of Bangladesh, up by 4.7%. During the trading hours, the investors’ activity was mostly centered on bank, which posted a 32.5% gain followed by the textile 13.3% and engineering sector 12.4% sectors. Delta Spinning was the highest gainer of the day, which went up by 5.78% to close at Tk12.8, while the Western Marine Ship Yard was the worst loser plunging 2.2% price.