Stocks rise for a second day straight

Share market indexes in Bangladesh maintained their upward trend for a second consecutive day yesterday as investors put fresh bets on lucrative issues amidst price fluctuations.
Industry people and investors are optimistic of a return of resilience and good governance as the interim government took a raft of measures for the financial sector, especially for the stock market.
As such, the DSEX, the broad index of Dhaka Stock Exchange (DSE), rose 11.13 points, or 0.19 percent, from that on the previous day before closing at 5,713.
Likewise, the DSES, the index that represents Shariah-compliant companies, went up by 5.57 points, or 0.45 percent, to 1,240.
However, the DS30 index of blue-chip firms slumped 6.93 points, or 0.33 percent, to 2,107.
At the Chittagong Stock Exchange, the CASPI, the prime index of the port city bourse, edged up by 34.57 points, or 0.21 percent, to settle at 16,161.
Turnover at the DSE, meaning the total value of shares that were traded, increased 11.10 percent to Tk 625 crore.
The banking sector dominated the turnover chart, accounting for 16.90 percent of the day’s total turnover.
Block trades, which are high-volume transactions in securities that are privately negotiated and executed outside the open market, contributed another 5.8 percent.
Agni Systems was the most traded share with a turnover of Tk 32 crore.
Of the issues that changed hands on the trading floor of the country’s premier bourse, prices of 163 went up, 172 closed lower and 62 did not witness any price movement.
Jute, ceramics and information technology (IT) were the top three sectors to close in the positive, according to the daily market update by UCB Stock Brokerage.
Life insurance, non-bank financial institutions (NBFIs) and engineering were the top three sectors that closed in the negative.
Shinepukur Ceramics topped on the gainers’ chart with a rise of 10 percent.
Northern Jute Manufacturing Company, Khan Brothers PP Woven Bag Industries, Premier Leasing & Finance and SK Trims & Industries made gains of over nine percent each.
Orion Infusion, National Tea Company, Jute Spinners, ADN Telecom, Bangladesh Submarine Cables, Kohinoor Chemicals and Social Islami Bank were also on the gainers’ list.
Prime Textile Spinning Mills shed the most, losing 9.32 percent.
National Life Insurance, FAS Finance & Investment, Hami Industries, Bangladesh Lamps, Zeal Bangla Sugar Mills and IBN SINA Pharmaceutical Industry suffered losses.
Tamijuddin Textile Mills, Libra Infusions, Shyampur Sugar Mills, Rupali Life Insurance and Bangladesh Industrial Financial Company were also on the same chart.
In its daily market update, BRAC EPL Stock Brokerage said most of the sectors which account for large amounts in market capitalisation, which is the total value of a company’s outstanding shares, posted a negative performance.
The NBFI sector experienced the highest loss of 1.39 percent, followed by engineering (1.02 percent), food & allied (0.59 percent), fuel and power (0.47 percent) and telecommunication (0.33 percent).
However, the pharmaceuticals sector recorded a gain of 0.14 percent, and the banking sector posted a gain of 0.23 percent.