Stocks rise for second day

Stocks in the Dhaka bourse continued to rise for a second consecutive day yesterday.

The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), surged 76 points, or 1.16 per cent, to reach 6,606 at the end of the day.

Both the DS30, the blue-chip index, and DSES, the Shariah-based index, went up 27 points and 10 points respectively.

Turnover of the DSE also rose to Tk 605 crore from the previous day's Tk 599 crore.

The stocks ended in the positive as investors showed interest in stocks that had turned cheaper and put fresh bets on sector-specific issues, said International Leasing Securities in its daily market review.

The investors thanked a recent regulatory encouragement on increasing institutional fund flow alongside discouragement of aggressive selling practices, it said.

The gainers took a strong lead over the losers as out of a total of 379 issues to undergo trade, 269 advanced, 78 declined and 32 remained unchanged.

All the sectors achieved price appreciations including paper and printing of 4.1 per cent and tannery 3 per cent.

According to the turnover, investors' attention was mainly concentrated on miscellaneous (22.3 per cent), engineering (10.8 per cent) and pharmaceuticals & chemicals (10.1 per cent).

JMI Hospital Requisite Manufacturing topped the gainers' list with a rise of about 9.98 per cent. IPDC Finance, Bangladesh Shipping Corporation, Alif Industries and Bangladesh Building Systems also saw major gains.