Dhaka stocks gain for 3rd day

Dhaka stocks gained for the third session on Thursday to hit a fresh 11-month high as investors kept injecting funds in sector specific scrips with an expectation of better financial disclosures.
DSEX, the key index of Dhaka Stock Exchange, advanced by 0.41 per cent, or 24.76 points, to close at 5,950.01 points on Thursday. The core index gained 59.77 points in last three sessions.
On Thursday, the index hit a fresh 11-month high after February 18, 2018 when it was at 5,950.75 points.
The market opened positive, gaining 32 points within half an hour of the session, and maintained the buoyancy till the end as investors continued buying shares, market operators said.
They said investors targeted sector specific stocks for investments on expectations of better earnings and dividend disclosures.
Share prices of Grameenphone surged by 5.43 per cent in last five sessions as the largest capitalised company announced that it would approve its earnings and dividends at a board of director meeting on January 27.
Market operators said investors were assessing possible financial results from a number of companies.
Share prices of Dhaka Electric Supply Company shot by 5.77 per cent after the company revealed 104 per cent profit growth in the first half (July-December, 2018) compared with that in the same period of the previous year.
Average share prices of textile, telecommunication, energy and bank advanced by 1.29 per cent, 1.07 per cent, 0.54 per cent and 0.43 per cent respectively.
Besides, continuous bull run at the market also lured investors into injecting funds in the capital market, stockbrokers said.
They said investors who were on the sidelines in last year became active this year that resulted in 564.37-points gain this month so far.
The market recovered Tk 32,6927.40 crore in market capitalisation in last 18 trading sessions after the December 30 national elections. It lost Tk 35,599 crore in market capitalisation in 2018.
Among the large capitalised companies, BRAC Bank, United Power Generation Company, DESCO and IFIC Bank helped the index to remain afloat.
The share prices of UPGDC shot up by 27 per cent in last 18 sessions to close at Tk 371.6 each on Thursday amid a rumour at the market that foreign investors were going to invest in the power company soon, market operators said.
The turnover on DSE inched down to Tk 1,037.57 crore on Thursday compared with that of Tk 1,045.25 crore in the previous trading session.
Of the 336 companies and mutual funds traded on Thursday, 124 declined, 186 advanced and 36 remained unchanged.
DSE blue-chip index DS30 advanced by 0.29 per cent, or 5.97 points, to close at 2,049.00 points.
Shariah index DSES shed 0.01 per cent, or 0.17 points, to finish at 1,321.61 points.
United Power Generation Company led the turnover leaders for the second day with its shares worth Tk 44.37 crore changing hands on Thursday.
Premier Bank, United Finance, IFIC Bank, Dhaka Bank, JMI Syringe & Medical Devices, City Bank, Bangladesh Submarine Cable Company, BBS Cables and Square Pharmaceutical were the other turnover leaders.
Continental Insurance gained the most on the day with a 9.96-per cent increase in its share prices, while Northern Jute Manufacturing Company was the worst loser, shedding 6.21 per cent.
Source: http://www.newagebd.net

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