Dhaka, Bangladesh (BBN)-Bangladesh’s stocks ended higher on Tuesday, breaking a week-long losing spell as investors went for buying shares following the central bank’s latest announcement.
Bangladesh Bank (BB) Monday said that it has started work of adjusting the banks’ over exposure on ‘case to case’ basis to bring down the banks’ over exposure within stipulated timeframe without selling any shares, which created a hype among the investors.
Both the Dhaka Stock Exchange, the prime bourse of Bangladesh, and Chittagong Stock Exchange, the port city bourse of the country opened with a steep rise and the upward trend sustain till end of the session.
The key index of Dhaka Stock Exchange (DSE) advanced 2.42 points, while the port city bourse, selective catagoru index of Chittagong Stock Exchange (CSE) earned 198.01 points at the closing.
The prime index of the Dhaka Stock Exchange (DSE) rose 100.77 points or 2.42 per cent to finish at 4,272.18 points.
The DS30 index, comprising blue chips, jumped 45.27 points or 2.83 per cent to finish at 1,644.50.
The DSE Shariah Index (DSES) rose 24.06 points or 2.36 per cent to close at 1,044.08 points.
However, turnover dropped to BDT 4.06 billion, which was 12 per cent lower than the previous day’s BDT 4.61 billion as many investors unwilling to sale shares at this price level.
The gainers took a strong lead over the losers as out of 316 issues traded, 263 closed higher, 29 lower and 24 remained unchanged on the DSE trading floor.
MJL BD dominated the turnover chart for the second running session with shares worth BDT 227 million changing hands, followed by Keya Cosmetics Tk 138 million, BSRM BDT 115 million, Linde BD BDT 101 million and United Power BDT 100 million.
Eastern Cables was the day’s best performer, posting a rise of 9.96 per cent, while BD Wildings was the worst loser, plunging 18 per cent following its no dividend recommendation.
The port city bourse Chittagong Stock Exchange (CSE) also rebounded strongly after seven days losses with its Selective Categories Index, CSCX, advancing 198.01 points to 7,992.96 points.
Gainers beat losers as 193 issues closed higher, 32 closed lower and 15 remained unchanged on the CSE.
The port city bourse traded 10.18 million shares and mutual fund units worth BDT 232 million in turnover.