• Wednesday, Dec 08, 2021
  • Last Update : 01:09 am

Stocks see sharp rise as turnover hits 13-week high

  • Published at 04:03 am May 15th, 2013
Stocks see sharp rise as turnover hits 13-week high

Stocks registered sharp rise for the fourth straight session yesterday with turnover crossing to Tk4bn mark after 13-week.

The rally was led mainly by insurers and financial institutions that gained more than 6% each.

The benchmark DSE General Index, DGEN, rose 81 points or 2% to close at 3957 — highest since March 19 this year.

The new benchmark, DSEX, gained 91 points or 2.47% to 3771. The DSE30 ended 19.45 points or 1.42% higher to 1380.

The Chittagong Stock Exchange Selective Category Index, CSCX, was up 178.72 points to 7432.62.

“Positive budgetary expectation has boosted investors’ sentiment,” said MA Hafiz, director of AAA Consultant. But investors should be cautious while picking up stocks, he said.

Participation continued to increase significantly as daily DSE turnover stood at Tk4.23bn, which was 43.38% higher over the previous session and highest since February 20 last.

With market sentiment getting further boost from political developments, the bourse made a stronger advancement, driving the indices, said IDLC Investment in its analysis.

While budgetary expectations and earnings outlook continue to drive the market, recent rally seemed to kick start a rise in fresh investments, as previously inactive investors seemed to come out of hibernation, it also said.

The turnover crossed Tk4bn mark after 52 trading days, indicating enthusiastic participation from both individual and institutional investors, according to Lanka Bangla Securities.

Among positive performing scrips, mutual funds and insurance companies demonstrated the highest momentum.

General insurance rose 6.66%, financial institutions 6.15%, power 2.64%, pharmaceuticals 2.02% and banks 1.12%.

United Airways was the most traded stock with shares worth Tk200m changing hands.

It was followed by Orion Pharma, Summit Purbanchol Power Company Ltd, Square Pharma, Generation Next, Aamra Technologies, Titas Gas and Beximco.

50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail