Stocks gain for third day

Dhaka stocks advanced for the third trading session on Monday in
volatile trading as investors remained positive.
A section of the large-scale investors, however, went for profit-taking sales on the day after the recent rise, market operators said.DSEX, the benchmark general index of the Dhaka Stock Exchange, finished at 3,902.39 points, advancing by 0.74 per cent or 28.76 points.
The key index of the bourse increased by 434.21 points in May after a declining trend in January. The DSEX advanced by 186.46 points in the last three trading sessions.
The turnover of the bourse declined to Tk 470.45 crore on Monday from the previous trading session’s Tk 538.57 crore.
Market operators said investors bought shares on hope of positive fiscal measures for the capital market.
They, however, said that following the recent rise in the market large-scale investors on Monday went for profit-taking, making the market volatile.
Recently, the capital market started to rise following a government’s move to refinance the stock market operators to implement the scheme for the small-scale investors affected by the stock market crash in 2010.
The old key index of the bourse, DGEN, gained 0.41 per cent, or 16.78 points, to finish at 4,096.76 points on Monday.
DS30, the blue-chip index of the bourse, increased to 1,420.35 points on the day, advancing by 0.67 per cent or 9.58 points.
Of the 273 issues traded on Monday, 89 advanced, 170 declined, and 14 remained unchanged.
Banks sector gained by 3.62 per cent on the day which was the reason for the market rise despite fall in share prices of most of the listed companies. The sector also occupied 16 per cent of the day’s turnover.
Orion Pharma led the turnover chart as its shares worth Tk 28.05 crore changed hands on the day.
Bangladesh Finance and Investment Company gained the most on the day as its share prices increased by 9.79 per cent. The company on the day declared that it would issue three right shares against five existing shares.
Share price of Republic Insurance declined by 5.94 per cent to make the company the worst loser on the day.

-With New Age input

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