Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended their winning spell for the five consecutive sessions on Sunday as optimistic investors continued their buying spree.
Analysts said stocks continued to maintain upward trend as buying interest spurred the sector specific issues amid optimism.
The securities regulator’s positive decision, for extending the timeframe of suspension of effectiveness of a provision of margin rules for the next six months, also created optimism among the investors.
On Thursday, the regulator in an order kept effectiveness of the section 3(5) of the Margin Rules, 1999 further to facilitate the transaction of inactive accounts.
After crossing the 5,500-mark in the previous day, the market started with an upward trend which sustained till end of the session with no major sign of reversal, ultimately ended nearly 34 points higher.
The key index of the DSE advanced 33.82 points, while the Selective Category Index of port city gained 66.25 points the end.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), finished at 5,546.28, advancing 33.82 points or 0.61 percent.
DSEX added 223 points or 4.18 percent in the past five consecutive sessions.
The two other indices edged higher. The DS30 index, comprising blue chips advanced 8.87 points or 0.44 percent to settle at 2,011.24 points.
The DSE Shariah Index (DSES) rose 9.85 points or 0.76 percent to close at 1,294.78 points.
Turnover, the important indicator of the market, also rose to BDT 9.66 billion, which was 5.80 percent higher than the previous day’s BDT 9.13 billion.
The gainers took a modest lead over the losers as out of 329 issues traded, 185 advanced, 89 declined and 55 remained unchanged on the DSE floor.
LankaBangla Finance dominated the turnover chart for the second day in a row with 9.19 million shares worth BDT 471 million changing hands, followed by Appollo Ispat Complex BDT 277 million, Baraka Power BDT 275 million, RAK Ceramics BDT 265 million and Ratanpur Steel Re-rolling Mills BDT 257 million.
Emeralds Oil Company was the day’s top gainer, positing a rise of 9.46 percent while LankaBangla Finance was the worst loser, shedding 3.08 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index – CSCX – advancing 66.25 points to settle at 10,396.28.
Gainers beat losers as 172 issues closed higher, 70 closed lower and 19 remained unchanged on the CSE.
The port city bourse traded 18.41 million shares and mutual fund units’ worth nearly BDT 549 million in turnover.