Stocks continue rising

Sun Online Desk

18th November, 2017 12:47:37 printer

Stocks continue rising

The bourses of the country-- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) -- continued rising for third straight week amid increased market participation by enthusiastic investors.


Three out of five trading days the last week closed green with combined gain of 112.13 points. The remaining two days accounted for a combined fall of 23.60 points.


Average market turnover of that week was Tk 9.37 billion as opposed to Tk 7.18 billion the previous week.


Average daily turnover increased by 54.7% comparing to previous week. Meanwhile, total turnover volume also increased by 26.25 % and total number of trades saw 14.2% increase.


EBL Securities Ltd, a stockbroker, said "Earnings and corporate declaration from the several companies satisfied investors' expectation and hence investors kept buying fresh stocks to rebalance their porfolio."


Among the large cap sectors, Telecommunication, Food & Allied, and Pharmaceuticals gained 6.02%, 5.07% and 3.19% respectively.


BRAC Bank topped the weekly turnover list followed by City Bank, Dhaka Bank, GP, AB Bank, Square Pharmaceuticals and Shahajalal Islami Bank.


International Leasing Securities Ltd, another stockbroker, in its weekly report, said "The opportunist investors revealed their buying interest on large cap stocks especially from bank, food and engineering sectors."


Top gaining stocks of the week were Eastern Cables (+19.28%), Reckitt Benckiser (Bd.) (+18.70%), and  AB Bank (+14.98%).


Conversely, top losing stocks were  Eastern Lubricants (-16.86%),  ACI Limited (-16.03%) and Oimex Electrode (-14.54%).


During the last week, the port city bourse, CSE closed in green zone. CASPI and CSCX were increased by 1.3 and 1.30 percent respectively.


Of the total 280 issues traded, 106 advanced, 153 declined and 21 remained unchanged.