Stocks continue rising for sixth consecutive day

Bangladesh's stock market continued to rise for the last six consecutive trading days thanks to increased participation of investors.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), surged 60 points, or 0.92 per cent, to 6,596, hitting a new high.

DS-30, the blue-chip stock index, surged 19 points to 2,385 points on the day.

Turnover, another important indicator of the market, up 8.5 per cent to Tk 2,511 crore.

There will be no trading in the country's bourses on August 8, as Bangladesh Bank today decided to keep banks closed on the day to contain the latest wave of the coronavirus pandemic.

Banks do not have enough options left to invest their excess liquidity in because of the rising cases of Covid-19 infections, market analysts said.

So banks are investing more in the stocks and many entrepreneurs are also rushing towards the capital market, they added.

At the DSE, 242 stocks advanced, 103 declined and 29 remained unchanged.

CVO Petrochemical topped the gainers' list that rose 10 per cent followed by Usmania Glass, Dacca Dyeing, Paper Processing & Packaging, and Gemini Sea Foods.

Stock of Beximco Ltd traded mostly that worth Tk 128 crore followed by Orion Pharmaceuticals, GPH Ispat, Malek Spinning, and SAIF Powertec.

Asian Tiger Sandhani Life Growth Fund shed mostly that fell 6.25 per cent followed by Beacon Pharmaceuticals, GBB Power, and NLI First Mutual Fund.

The port city bourse also rose today. The CASPI, the general index of the Chittagong Stock Exchange, advanced 155 points, or 0.82 per cent, to 19,014.

Among 326 traded stocks, 165 advanced, 141 dropped and 20 remained unchanged.