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Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended gaining streak for the two consecutive sessions on Wednesday as optimistic investors continued their buying spree on some large-cap stocks.
Analysts said the market stayed upbeat trend amid increased turnover value as investors showed their buying appetite on heavyweight bank and non-bank financial institutions shares amid optimism.
Following the previous day’s upbeat note, both bourses – the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) – opened higher.
After 15 minutes of trading, the key index of the DSE advanced 6.37 points while the Selective Category Index of port city bourse gained 23 points at 10:45am.
But, after 40 minutes of trading, DSEX stodd at 5,449 points, losing 20 points while the Selective Category Index of port city bourse fell 15 points at 11:10am.
However, some optimistic investors started to take position again on sector specific stocks and recovered the losses.
The upbeat trend sustained till end of the session.
Finally, DSEX, the prime index of the Dhaka Stock Exchange (DSE) advanced nearly 48 points while the Selective Category Index of port city bourse gained 103 points after four hours trading session.
DSEX, the benchmark index of the DSE, finished at 5,517.37 points, advancing 47.90 points or 0.87 percent over the previous session.
The two other indices also finished higher.
The DS30 index, comprising blue chips, advanced 12.24 points or 0.60 percent to close at 2,038.59 points.
The DSE Shariah Index (DSES) also gained 5.54 points or 0.43 percent to stand at 1,268.67 points.
Turnover, the important indicator of the market, rose to BDT 6.78 billion, which was nearly 36 percent higher than the previous day’s BDT 5.0 billion.
The gainers took a strong lead over the losers as out of 328 issues traded, 201 closed higher, 85 closed lower and 42 remained unchanged on the DSE trading floor.
LankaBangla Finance dominated the DSE turnover chart with some 12.86 million shares worth BDT 689 million changing hands, followed by United Power Generation BDT 288 million, IDLC Finance BDT 281 million, ICB BDT 245 million and Prime Bank BDT 244 million.
LankaBangla Finance was the day’s the best performer, posting a 9.92 percent gain, while UCB was the worst loser, slumping by 4.30 percent.
The port city bourse, the Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index – CSCX – advancing 88 points to settle at 10,361 points.
Gainers beat losers as 150 issues closed higher, 63 closed lower and 27 remained unchanged on the CSE.
The port city bourse traded 17.68 million shares and mutual fund units’ worth BDT 477 million in turnover.