Insurers pull up stocks
BI Report || BusinessInsider
Dhaka Stock Exchange building. Photo: UNB/File
Stocks witnessed a modest rise amid continuous volatility on Wednesday, led by insurers that continued to flex muscle.
The benchmark DSEX index rose 29 points or 0.4 percent to settle at 6,051 after closing flat in the previous session.
Other indices, the Shariah-based DSES index edged 4 points or 0.35 percent higher to 1,288 and the blue-chip DS30 index added 6 points or 0.29 percent to 2,183.
The insurance sector continued to remain hot gaining almost 9 percent led by Popular Life Insurance hitting almost circuit breaker at 10 percent. Seven out of the top 10 gainers came from the insurance sector, surging more than 9 percent each.
Service and real estate, cement, engineering, ceramics and mutual funds closed positive. Among other major sectors, banks, NBFI, energy, IT and textile declined on profit-booking.
Turnover increased by 3.79 percent to Tk 2,109 crore. The general insurance sector dominated the turnover chart covering 25.56 percent of the total turnover.
BSRM Steel Ltd soared 9.76 percent after the steelmaker reported a 152 percent jump in its third-quarter earnings due to higher sales.
Beximco was the most traded company, followed by Pioneer Insurance, BBS Cables, Orion Pharmaceuticals, Confidence Cement, BSRM Ltd and Green Delta Insurance.