Stocks stretch gaining streak

Stocks continued to rise for a fourth consecutive day riding on the market regulator's policy intervention to halt the falling trend of share values.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 97 points, or 1.46 per cent, to close at 6,765 yesterday. With this, the index gained a total of 309 points in the last four days.

Meanwhile, turnover at the country's premier bourse dropped 6 per cent to Tk 998 crore while it was Tk 1,061 crore a day earlier.

The stock market extended its gaining streak for the fourth straight session as buoyant investors are putting fresh bets on lucrative issues riding on the regulatory steps, International Leasing Securities said in its daily market review.

Among the sectors, ceramic rose 3.9 per cent, cement edged up 3.3 per cent, and services and real estate increased 2.8 per cent while the tannery and general insurance sectors dropped 0.4 per cent each.

The investors' attention was mainly concentrated on textiles (15.4 per cent), engineering (13.4 per cent), and pharmaceuticals and chemicals (13.1 per cent).

Beximco Ltd remained the most traded stocks with shares worth Tk 72 crore changing hands followed by Bangladesh Building Systems, BDCOM Online, Dragon Sweater and Spinning, and Orion Pharmaceuticals.

At the DSE, 273 stocks advanced, 87 declined and 20 remained unchanged.

S Alam Cold Rolled Steels topped the gainers list, rising 9.92 per cent, followed by BDCOM Online, Reliance First Mutual Fund, Shurwid Industries, and Advent Pharmaceuticals.

United Insurance shed the most, dropping 5.19 per cent, followed by Libra Infusion, Tamijuddin Textiles, Linde Bangladesh, and Anwar Galvanizing.

The Chittagong Stock Exchange (CSE) also rose yesterday. The Caspi, the main index of the CSE, added 238 points, or 1.21 per cent, to reach 19,799 at the end of the day.

Among the 293 traded stocks, 211 rose, 65 fell and 17 remained the same.