Shares on the Dhaka and Chattogram stock exchanges continued their bull run yesterday on the back of a fuel price cut, albeit marginally.  

On Monday, the government slashed the fuel prices by Tk 5 per litre in line with the 11.25 percentage points cut in the import duty of diesel by the National Board of Revenue.

From yesterday, the retail price of diesel and kerosene stood at Tk 109, petrol Tk 125 and octane Tk 130. The price adjustment came 23 days after the government went for a record fuel price hike of 42.5 to 42.7 per cent.

As a result, the DSEX, the benchmark index of the Dhaka Stock Exchange, added 24 points, or 0.39 per cent, to close at 6,432, posting an increase for the fifth consecutive day.  

The DS30, the blue-chip index, gained 0.17 per cent to 2,279, and the DSES, the shariah-based index, was up 0.21 per cent at 1,396.

Turnover, one of the important indicators of the market, was up slightly at Tk 1,769 crore. It was Tk 1,744 crore on Monday.

Of the securities, 184 advanced, 123 declined and 73 did not show any price movement.

On Monday, the government slashed the fuel prices by Tk 5 per litre in line with the 11.25 percentage points cut in the import duty of diesel by the National Board of Revenue

"Stocks continued the bull run as the bargain hunters sustained their buying appetite amidst enthusiastic participation.

The buoyant investors exerted their interest riding on the news that the government cut down the fuel oil price by Tk 5 per litre," said International Leasing Securities Ltd, a brokerage house, in its daily market review.

Yesterday, the market opened on an upbeat note and defended the sale pressure mid-session as cheerful investors put fresh bets on large-cap stocks.

Among the sectors, service rose 3.4 per cent, financial institutions gained 2.3 per cent, and cement added 1.8 per cent. On the other hand, telecom shed 1.2 per cent, ceramic lost 1.1 per cent and IT suffered a 0.6 per cent price correction.

The investors' activity was mostly centred in the textiles, pharmaceuticals and engineering sectors, which accounted for 21.8 per cent, 13.2 per cent and 12 per cent of the market's turnover, respectively.

Among the individual companies, Eastern Housing posted the highest gain on the day, advancing 9.92 per cent. Advent Pharma and National Housing Finance and Investments Ltd surged more than 9 per cent, while Pacific Denims, Apex Foods, Orion Infusion, and Apex Spinning & Knitting Mills rose over 8 per cent.

Bangladesh Monospool Paper Manufacturing Company Ltd was the worst-performing stock on the day, retreating 5.13 per cent. Pharma Aids, Paper Processing & Packaging, Vanguard AML Rupali Bank Balanced Fund, Northern Islami Insurance, Nahee Aluminum Composite Panel, and Rahima Food Corporation lost more than 3 per cent.

Bangladesh Export Import Company retained the top post of the most-traded stocks with its shares worth Tk 92 crore transacting.

Orion Pharma, Bangladesh Shipping Corporation, Eastern Housing, and LafargeHolcim Bangladesh were among the companies that saw significant turnover. 

The CASPI, the all-share price index of the Chittagong Stock Exchange (CSE), rose for the fourth straight day yesterday as it closed at 18,898 after adding 69 points, or 0.37 per cent.

On the CSE, gainers outnumbered decliners as 148 securities advanced, 93 fell, and 63 were unchanged.

Turnover rose marginally to Tk 42.84 crore from Tk 42.02 crore a day ago.