Stocks rise for a second day

The stock markets in Bangladesh rose for a second consecutive trading day yesterday as investors poured fresh funds for select shares to quickly gain short-term profits amidst price movements.

Shares of companies like Square Pharmaceuticals, Grameenphone, Robi Axiata, Saif Powertec, Renata, LafargeHolcim Bangladesh, Olympic Industries, National Bank and Eastern Bank drew interest.

The prime index of Dhaka Stock Exchange, DSEX, rose by 24.11 points, or 0.46 percent from that on the previous day, before closing at 5,226.

The DSES index, which represents Shariah-based shares, went up 6.11 points, or 0.52 percent, to 1,174.

The DS30 index, which represents blue-chip stocks, edged up 7.65 points, or 0.40 percent, to 1,921.

At Chittagong Stock Exchange, the CASPI, the CSE All Share Price Index of the port city bourse, grew by 43.50 points, or 0.30 percent, to settle the day at 14,602.

Of the issues that changed hands at the DSE, 203 witnessed a hike in prices, while those of 128 closed lower. The remaining 71 did not see any price fluctuations.

Turnover, which is the cumulative value of the shares that were traded, increased by 2.45 percent to stand at Tk 512 crore.

The pharmaceuticals sector dominated the turnover chart, accounting for 14.45 percent of the total.

Block trades, which refers to high-volume transactions in securities that are privately negotiated and executed outside the open market, contributed another 2.8 percent.

Asiatic Laboratories Limited emerged as the most-traded share, with a turnover of Tk 168 crore.

In sector-wise transactions, services and real estate, paper and printing and non-bank financial institutions (NBFI) became the top three to close in the positive, according to the day's market update by UCB Stock Brokerage.

However, jute, tannery and information technology were the top three to close in the negative.

Most of the large-cap sectors, meaning those that account for large amounts in market capitalisation, which the total value of their shares at present, posted a positive performance.

The NBFIs booked the highest gain of 2.44 percent, followed by telecommunication (1.82 percent), fuel and power (0.53 percent), pharmaceuticals (0.42 percent), engineering (0.23 percent), and food and allied (0.13 percent).

Banking was the only sector to suffer a loss, which was of 0.12 percent.