Stocks rise for second day

Stocks in Bangladesh continued rising for the second day in a row yesterday thanks to higher participation from general investors, who hope the market will not fall further.

Investor participation increased after the Bangladesh Securities and Exchange Commission (BSEC) reintroduced a floor price last week.

The DSEX, the benchmark index of the Dhaka Stock Exchange, rose 30 points, or 0.48 per cent, to close the trading session at 6,163.

Turnover, another key indicator of the market, surged to Tk 921 crore, up from the previous day's Tk 567 crore.

Both the DS30, the blue-chip index, and DSES, the shariah-based index, increased by 10 points and 7 points respectively.

Esquire Knit Composite topped the gainers list with a 9.97 per cent rise. Hwa Well Textiles, Bangladesh Industrial Finance Company, Tosrifa Industries and Ambee Pharmaceuticals also rose significantly.

Takaful Islami Insurance shed the most, eroding 4 per cent, while Phoenix Insurance, Express Insurance, Pioneer Insurance, and Janata Insurance also remained on the top losers' list.

Beximco Ltd became the most traded stock with shares worth Tk 44 crore changing hands followed by Fortune Shoes, Sonali Paper & Board Mills, Intraco Refuelling Station and Square Textiles.

The Chittagong Stock Exchange (CSE) also rose yesterday. The CASPI, the all share price index of the port city bourse, increased by 136 points, or 0.75 per cent, to 18,112.

At the CSE, 175 stocks advanced, 39 fell and 72 were unchanged.