Dhaka, Bangladesh (BBN) – Bangladesh’s stocks returned to the green on Monday, after remaining down in the last two sessions, as optimistic investors took position on lucrative stocks.
Brokers said the market rebounded after two days’ heavy downfall in prices as optimistic investors went on buying spree amid lucrative bargain opportunity fundamental stocks.
The market started with an upward trend and the positive trend sustained till end of the market amid periodic small downswings, ultimately ended 40 points higher.
The key index of the country’s prime bourse went up by 40.22 points while the port city bourse advanced 77.97 points at the closing.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 40.22 points or 0.76 per cent to settle at 5,363.09 points, after losing about 152 points in the past two days.
The two other indices also closed higher.
The DS30 index, comprising blue chips rose 9.44 points or 0.48 per cent to finish at 1,961.85 points.
The DSE Shariah Index (DSES) advanced 7.93 points or 0.63 per cent to close at 1,257.29 points.
However, trading activities continued to decline and the total turnover came down to BDT 5.76 billion, which was 15 per cent lower than the previous day’s BDT 6.78 billion.
The gainers took a strong lead over the losers as out of 325 issues traded, 223 advanced, 71 declined and 31 remained unchanged on the DSE floor.
Saif Powertec was the most-traded stock on the DSE for the second day in a row with shares worth BDT 355 million changing hands, followed by LankaBangla Finance, Appollo Ispat Complex, Ratanpur Steel Re-rolling Mills and ACI Formulations.
Eastern Insurance was the day’s top gainer, positing a rise of 9.96 per cent while Shympur Sugar Mills was the worst loser, losing 9.38 per cent.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index – CSCX – advancing 77.97 points to settle at 10,045.36 points.
Gainers beat losers as 163 issues closed higher, 63 closed lower and 25 remained unchanged on the CSE.
The port city bourse traded nearly 28 million shares and mutual fund units’ worth BDT 467 million in turnover.