Stocks extended their post-Eid rally for a sixth consecutive session on Monday as strong investor appetite for selective shares pushed the major indices of both bourses higher amid rising turnovers.
DSEX, the broad index of the Dhaka Stock Exchange (DSE), rose 0.7 per cent or 36.8 points to close at 5,373.
The market stayed upbeat from the opening bell as investors continued buying selective high-momentum shares with perceived upside potential, leading to broad-based price appreciation across most sectors, EBL Securities research said in its post-closing market commentary.
Turnover, a key indicator measuring the total value of shares traded, rose 17.2 per cent to Tk910 crore from Tk780 crore in the previous session.
The engineering sector shares captured the highest portion of turnover at 17.4 per cent, followed by banking stocks’ 16 per cent and pharmaceutical shares’ 12.4 per cent turnover contribution.
Most sectors ended higher on Monday. Information technology shares rose 1.6 per cent on average, while life insurance and banking sector stocks both gained 1.4 per cent on average.
In contrast, the jute sector shares fell 1.6 per cent, tannery stocks declined 1.2 per cent and general insurance shares dropped 1.1 per cent on average.
Out of 392 traded issues on the Dhaka bourse, 178 advanced, 150 declined and 68 remained unchanged.
Sonargaon Textiles rose 10 per cent to lead the gainers’ chart, followed by Golden Son, which gained 9.9 per cent, Nahee Aluminium Composite Panel, up 9.3 per cent, Bangladesh Building Systems, which advanced 9.3 per cent, and ICB Employees Provident Mutual Fund One, which climbed 9.1 per cent.
Baraka Patenga Power rose 8.3 per cent, Bangladesh Thai Aluminium gained 7.6 per cent, NCC Bank advanced 7.5 per cent, Sikder Insurance Company climbed 7 per cent and Golden Harvest Agro Industries rose 6 per cent.
On the losing side, Premier Leasing fell 7.4 per cent, followed by Union Capital, which declined 6.5 per cent, Prime Finance & Investment, down 6.1 per cent, Apollo Ispat Complex, which dropped 5.7 per cent, and FAS Finance & Investment, which lost 5.6 per cent.
International Leasing and Financial Services, and Phoenix Finance & Investments both fell 5.6 per cent, while Apex Tannery declined 4 per cent, Pragati Insurance dropped 3.8 per cent and Rahima Food Corporation also ended lower.
The Chattogram Stock Exchange also ended higher. Its broad-based index CSCX rose 0.5 per cent to 9,215, while the all share price index CASPI rose 0.4 per cent to 14,971.
Turnover in the port city bourse rose 116 per cent to Tk47.2 crore on Monday.
