Stocks rise for fifth day but turnover falls

The benchmark index of the Dhaka Stock Exchange (DSE) extended its gaining momentum as it advanced for the fifth consecutive day yesterday.

The DSEX, the broad index of the premier bourse in Bangladesh, added 5.69 points, or 0.10 percent, to close the day at 5,564.63.

The DSES, the index that consists of Shariah-based companies, ticked up 0.31 points, or 0.02 percent, to 1,215.14.

However, the DS30, the index that is composed of the blue-chip firms, declined 4.60 points, or 0.23 percent, to 1,959.90.

Turnover, which indicates the volume of the shares traded during the session, slipped 2.22 percent to Tk 888 crore.

Of the issues that traded on the DSE, 164 advanced, 197 declined, and 33 did not see any fluctuations.

The pharmaceuticals sector dominated the turnover chart, accounting for 15.68 percent of turnover.

Block trades, which refer to high-volume transactions in a security that is privately negotiated and executed outside of the open market, contributed 3.9 percent to the market's turnover.

General insurance, textile, and life insurance were the top three sectors to close in positive territory while tannery, travel and leisure, and jute sectors ended in the red.

The engineering sector experienced the highest loss of 1.47 percent, BRAC EPL Stock Brokerage said in its daily market update.

The food and allied sector was down 1.25 percent, telecommunication fell 1.17 percent, and the non-bank financial institution sector declined 0.94 percent.

Fuel and power, bank, and pharmaceuticals sectors also fell.

Among the individual companies, Sea Pearl Beach Resort & Spa was the most traded share with its stocks amounting to Tk 37.7 crore transacted.

Khan Brothers PP Woven Bag Industries, Square Pharmaceuticals, City Bank, Aftab Automobiles, National Bank, Shahjalal Bank, and Keya Cosmetics contributed to the market's rise.

On the other hand, shares of large-cap and blue-chip companies such as BAT Bangladesh, Beximco Pharmaceuticals, Grameenphone, BRAC Bank, Robi Axiata, Orion Pharma, Prime Bank, Beacon Pharmaceuticals, and LafargeHolcim Bangladesh displayed lacklustre performance.

Khan Brothers, a loss-making firm, topped the gainers' chart with a rise of 9.94 percent. Golden Son, Global Heavy Chemicals, and Republic Insurance Company logged a gain of more than 9 percent.

Miracle Industries, ACME Pesticides, BD Thai Aluminium, Eastern Insurance, Union Insurance and Kattali Textile also gained.

Unilever Consumer Care shed the most, losing 2.98 percent,

Bangladesh Lamps Limited, Tamijuddin Textile Mills, Union Bank, Desh Garments, GSP Finance, Bay Leasing & Investment, Global Islami Bank, and New Line Clothings suffered losses.

The Chittagong Stock Exchange also rose with the Caspi, the premier index of the bourse in the port city, went up 81.63 points, or 0.52 percent, to settle at 15,794.66.