Dhaka, Bangladesh (BBN)– Bangladesh’s stocks rebounded on Monday, snapping a three-day losing streak, as optimistic investors went on buying binge on large-cap shares.
Analysts said investors were active in the market throughout the session, taking the market the green zone.
The market opened on positive note and the key index rose about 54 points in the mid-session. But rest of the session eroded half of the gains.
At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 5,828, gaining 26.73 points or 0.46 percent over the previous day.
The two other indices also ended higher. The DS30 index, comprising blue chips, advanced 14.36 points to finish at 2,018 and the DSES (Shariah) index rose 7.85 points to settle at 1,319.
Turnover, another important indicator of the market, stood at BDT 8.89 billion, which was 9.65 percent lower than the previous day’s turnover of BDT 9.84 billion.
A total number of 185,889 trades were executed in the day’s trading session with trading volume of 202.91 million shares and mutual fund units.
The market-cap of the DSE increased to BDT 4,183 billion which was BDT 4,156 billion in the previous day.
The losers, however, took a marginal lead over the gainers as out of 347 issues traded, 155 closed lower, 150 ended higher and 42 issues remained unchanged on the DSE trading floor.
United Power topped the turnover chart with 1.49 million shares worth BDT 600 million changing hands, followed by Bangladesh Submarine Cable Company, Khulna Power, Singer BD and Meghna Petroleum.
Power Grid Company was the day’s best performer, posting a gain of 8.03 percent while Asia Insurance was the day’s worst loser, shedding 10 percent.
The port city bourse Chittagong Stock Exchange also ended higher with the CSE All Share Price Index – CASPI – gaining 74 points to settle at 17,856 while the Selective Categories Index – CSCX –advancing 44 points to finish at 10,799.
Here too, the losers beat the gainers as 127 issues closed lower, 117 higher and 28 remained unchanged.
The port city bourse traded 10.25 million shares and mutual fund units worth BDT 289 million in turnover.