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Dhaka stocks snap three-day losing streak

Investors place fresh bets on lucrative stocks
STAR BUSINESS REPORT
Shares at the Dhaka Stock Exchange (DSE) rose yesterday, breaking a three-day losing streak as investors made fresh bets on lucrative stocks.
The benchmark index of the country’s premier bourse, DSEX, rose 2.17 points, or 0.04 percent, to close the day at 5,484.96.
Likewise, the DSES, the index that is composed with the Shariah-compliant companies, went up 0.73 points or 0.06 percent to 1,203.43 while the DS30, the index that comprises of the blue-chip firms, edged up 7.18 points, or 0.37 percent, to 1,944.29.
Turnover, meaning the total value of shares changing hands, increased 6.43 percent to Tk 662 crore compared to the previous day.
Orion Infusion was the most traded share with a turnover of Tk 57.2 crore.
The turnover’s 7.7 percent came from block trades, which are high-volume transactions in a security privately negotiated and executed outside of the open market.
Of the issues that traded on the DSE, 140 closed higher, 191 declined and 66 did not see any price movement.
Information Services Network topped the gainers’ list posting a rise of 9.93 percent, followed by Techno Drugs, Far East Knitting & Dyeing Industries, Walton Hi-Tech Industries, and Orion Infusion that also fared well.
Mithun Knitting and Dyeing, Far Chemical Industries, Sonargaon Textiles, Bangladesh Industrial Financial Company and Samata Leather Complex were also on the gainers’ list.
Linde Bangladesh shed the worst, losing 3 percent.
Salvo Chemical Industry, Beach Hatchery, Oimex Electrode and Khan Brothers PP Woven Bag Industries performed in the negative territory.
ICB Islamic Bank, eGeneration, Jute Spinners, Golden Son, and Shurwid Industries were on the losers’ list.
A mixed performance by large-cap sectors was the highlight of the market, where the engineering sector booked the highest gain of 3.75 percent followed by pharmaceuticals 0.37 percent, non-bank financial institutions 0.14 percent, and food and allied 0.14 percent.
Telecommunication, bank, and fuel and power also decreased by 0.09 percent, 0.31 percent and 0.32 percent respectively.
Shares of large-cap and blue-chip such as Orion Infusion, Kohinoor Chemicals, Heidelberg Materials Bangladesh, City Bank, BAT Bangladesh, Square Pharmaceuticals, Delta Life Insurance, Far Chemicals Industries, Acme Laboratory and Taufika Foods and Lovello Ice-cream displayed positive performance, according to LankaBangla Financials.
Of them, Orion Infusion posted a rise of 2.09 percent.
Beximco Pharmaceuticals, Best Holdings, Khan Brothers PP Woven Bag Industries, Linde Bangladesh, Prime Bank, Navan Pharma, Al-Arafah Islami Bank, IFIC Bank, Beacon Pharmaceuticals and Southeast Bank performed on a negative note.
Of them, Beximco Pharma logged a fall of 1.73 percent.
However, Chittagong Stock Exchange also saw a downtrend as the Caspi, the broad index of the premier bourse of the port city, shed 29.02 points, or 0.18 percent, to reach 15,632.05.