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Stock rally continues

WT24 Desk

Stocks rally continued for the second session on Tuesday, with prices indices maintaining strong recovery trend at both Dhaka and Chittagong stock exchanges, agencies report.  The broader DSEX index of Dhaka Stock Exchange (DSE) advanced further by 20.54 points to settle at 4496.35 when the blue-chip DS30 finished up at 1707.91 and the Shariah DSES at 1083.39.

The daily trade value, however, marginally fell to Taka 402 crore as shares of some major sectors incurred losses on sell pressure. The number of lagging issues also increased on the day to 103 from Monday’s 55 losing scrips. The day’s major losers were Zaheen Spinning, Rahima Food, Green Delta MF, Zahin Textile and Standard Insurance. The major losing sectors were food and allied and fuel and power.

Banking, cement, textile and NBFI maintained up trend with marginal gains when Apex Tannery, ICB, DBH, Phoenix Finance and United Insurance were the top five among the day’s 154 advancing securities. Saif Power, Ifad Autos, Beximco Pharma, Olympic and CVO Petroleum were the top five turnover leaders when the daily trade value inched up at 10.31 crore shares.

Chittagong Stock Exchange (CSE) also maintained upward trend on Tuesday, with its major CSCX advancing further by 36.40 points to finish at 8347.25.  Out of the day’s 235 issues traded, 123 gained and 39 incurred losses when trade volume fell to 78 lakh shares, but the value rose to Taka 26.76 crore.

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