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Stocks extend rally ahead of Eid holidays

  • Published at 01:16 am September 8th, 2016
Stocks extend rally ahead of Eid holidays
However, some investors, particularly, retailers stayed on the sidelines ahead of the upcoming nine-day Eid holidays beginning from September 9. The benchmark index of Dhaka Stock Exchange DSEX rose 26 points or 0.6% to 4,594, extending its gaining streak for the fifth straight session. The DS30 index, comprising blue chips, gained 8 points or 0.5% to 1,762. The DSE Shariah Index was marginally up 4 points to 1,110. The Chittagong Stock Exchange Selective Category Index CSCX was up 51 points to 8,600. Trading activities also increased as the DSE turnover stood at Tk498 crore, up about 5% over the previous session. Most sectors ended positive with engineering sector leading the way with the highest rise of 1.2%. The market’s bellwether banks also moved up over 1%, followed by power 0.6%, non-banking financial institutions 0.5% and pharmaceuticals 0.4%. Other low cap sectors, including IT, service & real estate and cement performed well while ceramics, life insurance, telecommunications and textile ended flat in green. Mutual funds sector was the worst loser falling about 2%, followed by jute around 2% and travel & leisure about 1%. Tannery, food & allied and general insurance closed flat in red. Of 320 issues traded, 154 securities gained, 120 declined and 46 remained unchanged. Shahjibazar Power Company Ltd continued to be the most-traded share for the fifth session in a row with a turnover worth around Tk27 crore.
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