Stocks gain for sixth day as turnover tops Tk 15bn

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Stocks gain for sixth day as turnover tops Tk 15bn

B Mirror Report:  Stocks extended their winning streak to a sixth consecutive trading session on Tuesday, buoyed by sustained investor optimism, supportive fiscal measures and broad-based buying across sectors.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) climbed 40.3 points, or 0.71 percent, to close at 5,763, compared with 5,723 in the previous session.

The market remained upbeat throughout the session as investors continued accumulating shares amid expectations of a favourable near-term outlook.

Market sentiment was further supported by capital market-friendly measures included in the newly approved national budget and Finance Bill. Buying interest in blue-chip stocks also remained strong as investors sought to take advantage of tax incentives available for capital market investments before the close of the fiscal year.

Turnover on the DSE rose 16.4 percent to Tk 15.7 billion from Tk 13.5 billion in the previous session, crossing the Tk 15 billion threshold for the first time in nearly two years.

The textile sector accounted for the largest share of turnover at 16.3 percent, followed by banking with 13.5 percent and pharmaceuticals with 11.4 percent.

Sectoral performance was broadly positive, led by engineering, which advanced 3.2 percent. Mutual funds gained 2.5 percent, while the services sector rose 2.2 percent.

Among the laggards, the travel and leisure sector fell 2.2 percent, while the miscellaneous and paper sectors declined 0.7 percent and 0.4 percent, respectively.

Of the 396 issues traded on the DSE, 243 advanced, 89 declined and 64 remained unchanged, reflecting a broadly positive market breadth.

The Chittagong Stock Exchange (CSE) also ended in positive territory, with the CSCX index gaining 59.7 points and the CASPI index rising 98.1 points.

 

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