Dhaka, Bangladesh (BBN) – Bangladesh’s stocks closed higher on Wednesday with prime index of the major bourse crossing the 4,900-mark after 23 months as optimistic investors took position on large-cap stocks.
Brokers said the market finished higher as enthusiastic investors were active on large-cap stocks throughout the session amid optimism, taking the prime index of the major bourse to a 23 months high level.
The market started with a flying note and the upbeat trend persistent till the end of the session with no sign of reversal amid increased participation from the investors.
At the end of the session, the benchmark index of the Dhaka Stock Exchange (DSE) went up by 37.32 points or 0.77 percent to settle at 23 months’ high at 4,906.92.
The point was the highest level of DSEX since January 18, 2015 when DSEX was 4,917.37 points.
The two other indices also closed higher. The DS30 comprising blue chips soared 11.74 points or 0.66 percent to finish at 1,797.36 points.
The DSE Shariah Index (DSES) jumped 11.89 points or 1.03 percent to close at 1,169.03 points.
Turnover, the most important indicator of the market, also crossed BDT 10.50 billion-mark once again.
The total turnover amounted to BDT 10.65 billion, which was 44 percent higher than the previous session’s BDT 7.41 billion.
The gainers took a strong lead over the losers as out of 323 issues traded, 179 closed higher, 100 closed lower and 44 remained unchanged on the DSE trading floor.
Bangladesh Building Systems dominated the DSE turnover chart for the second day in row with about 14.42 million shares worth BDT 698 million changing hands, followed by Lafarge Surma Cement, Active Five Chemical, Appollo Ispat Complex and Ratanpur Steel Re-rolling Mills.
Bangladesh Building Systems was also the day’s highest gainer, posting a 10 percent rise, while Standard Insurance was the worst loser, slumping by 4.66 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), ended higher with its Selective Categories Index – CSCX – rising 66.34 points to settle at 9,148.04.
Gainers beat losers as 137 issues closed higher, 81 closed higher and 37 remained unchanged on the CSE.
The port city bourse traded 21.46 million shares and mutual fund units’ worth over BDT 670 million in turnover.