Dhaka, Bangladesh (BBN) – After witnessing a major correction in the previous day, Bangladesh’s stocks rebounded strongly on Thursday, as investors showed their buying appetite on some large-cap issues, especially GrameenPhone.
GrameenPhone (GP), the lone listed mobile phone company in the country’s capital market, soared nearly 5.0 percent to close at BDT 365.10 each following its interim dividend declaration on the day.
The board of directors of the largest market cap listed company in the county’s capital market has recommended 105 percent interim cash dividend for the year that will be ended on December 31, 2017.
Following the previous day’s major correction, Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened with a positive trend.
Within 15 minutes of trading, the key index of the country’s prime bourse rose 20 points while the Selective Category Index of port city bourse advanced 9.0 points at 10:45am.
After 30 minutes of trading, DSEX fell 11.65 points while the Selective Category Index of port city bourse dropped 22 points at 11:00am.
After two hours of trading of trading, DSEX, the prime index of the DSE advanced 0.68 points, while the Selective Category Index of port city bourse rose 4.55 points at 12:30pm.
And the rest of the session went up steadily finally closed more than 44 points higher.
DHAKA STOCK EXCHANGE:
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 44 points or 0.76 percent to settle at 5,835, which was the highest level of DSEX since its inception on January 27, 2013.
Along with key index, the total market capitalisation of the DSE also rose to an all-time high of over BDT 3918 billion on the day, surpassing the previous high of BDT 3,893 billion recorded on Tuesday.
The two other indices also closed higher. The DS30 index, comprising blue chips advanced nearly 15 points or 0.70 percent to finish at 2,131.
The DSE Shariah Index (DSES) rose 10 points or 0.78 percent to close at 1,327.
Turnover, the important indicator of the market, also rose to BDT 10.09 billion, which was 10 percent higher than the previous day’s BDT 9.14 billion.
The gainers took a strong lead over the losers as 330 issues traded, 210 closed higher, 70 closed lower and 50 remained unchanged on the DSE trading floor.
GrameenPhone emerged as turnover leader with about 1.82 million shares of BDT 656 million changing hands, closely followed by Keya Cosmetics BDT 607 million, IFAD Autos BDT 409 million, United Power BDT 334 million and Generation Next Fashions BDT 311 million.
Fu-Wang Food was the day’s highest gainer, posting a 9.73 percent rise, while Agrani Insurance was the worst loser, plunging 4.24 percent.
CHITTAGONG STOCK EXCHANGE:
The port city bourse, the Chittagong Stock Exchange (CSE), also rebounded strongly with its Selective Categories Index – CSCX – gaining 88 points to settle at 10,939 points.
Gainers beat losers as 166 issues closed higher, 58 closed lower and 25 remained unchanged on the CSE.
The port city bourse traded 22.80 million shares and mutual fund units’ worth BDT 543 million in turnover.