Stocks extend rally amid busy corporate earnings week

The Dhaka bourse maintained its winning streak on Thursday, extending gains for the fourth day as major companies continue to release their corporate earnings for the second quarter current financial year.

So far, 17 companies have published their financial reports for the first half (July-December) 2022 financial year. Of these, the profits of 3 companies have increased and 14 have decreased. Of the 17 companies, only BBS Cables, Zaheen Spinning and MB Pharma have seen a rise during the period.

During the first four hours of the transaction, the price index was in a negative trend. However, in the final half, the share price of some big capital companies increased and along with them all the indices.

However, even then, the number of losers remained more than four times than that of winners.

DSEX, the prime index of the Dhaka Stock Exchange DSE, gained 2.85 points or 0.04 percent to settle at 6296.25 as against 6293.40 points in the previous trading session. The DSE Shariah Index (DSES) advanced 2.27 points or 0.16 percent to finish at 1374.54. The DSE 30 Index, comprising blue chips, increased by 2.00 points or 0.08 percent to close at 2230.70.

Turnover, a crucial indicator of the market, decreased by 31.18 percent and stood at Tk 505.53 crore at the end of the day. It was Tk 734.60 crore at the previous session on Thursday.

Shares of the 348 issues were traded on the day, of which 33 closed in green, 136 in red and 179 showed no price movement.

EHL was the day’s best performer on the day, posting a gain of 9.92 percent. SPCERAMICS was the second-best gainer (6.74 percent), followed by PRAGATILIF (5.25 percent), BPML (4.62 percent), and POPULARLIF (3.63 percent).

On the other hand, INTECH had the sharpest fall, shedding 16.32 percent, followed by ORIONINFU (-3.66 percent), METROSPIN (-3.65 percent), RUPALILIFE (-3.23 percent), and SEAPERAL (-3.07 percent).

EHL was the most-traded by value with its shares worth Tk 29.66 crore trading on the day. BPML, which was the second most-traded stock, had a turnover of Tk 28.21 crore followed by GENEXIL at 26.66 crore, SEAPEARL at Tk 21.74 crore, and AAMRANET at Tk 20.46 crore.

On the sectoral front, Life Insurance was the best performer in the session. The total turnover in this sector was Tk 84.13 crore, which was 18.44 percent of the total turnover. The IT sector was in the second position with Tk 69.78 crore turnover, followed by the Insurance sector with Tk 36.50 crore, Pharmaceuticals and Chemicals sector with 35.40 crore, and Travel & Leisure with Tk 33.69 crore.

Meanwhile, the port city bourse, Chittagong Stock Exchange (CSE), also settled on red terrain. All Share Price Index (CASPI) lost 10.55 points or 0.06 percent to 18565.63 and securities worth Tk 21.39 crore were traded on the day. The selected indices (CSCX) lost 6.07 points or 0.05 percent to 11129.15.

Of the 182 issues traded, 33 advanced, 64 declined and 85 had no price movement on the CSE. The port city’s bourse traded 9,962,985 shares and mutual fund units on the day.