Dhaka, Bangladesh (BBN)– Bangladesh’s stocks extended their winning streak for the fourth straight session on Tuesday amid increased turnover as optimistic investors showed their buying spree on large-cap stocks.
Analysts said the market kept gaining as enthusiastic investors continued to take position on sector-wise large-cap issues, especially Grameenphone, anticipating positive earnings and dividend declaration.
The telecom sector continued to surge as GP, the country’s largest market-cap listed company’s shares price continued to soar and closed at BDT 503.80, gaining 1.90 per cent.
Following the previous three days’ upturn, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 10 points while the CSE All Share Price Index (CAPSI) of port city’s bourse gained 13 points at 10:45am.
After first 30 minutes of trading, the key index of the DSE advanced nearly 7.0 points while the CSE All Share Price Index (CAPSI) gained 11 points at 11:00am.
After 90 minutes of trading, DSEX advanced more than 5.0 points while the CSE All Shares Price Index rose 18 points at 12:00 noon
The positive trend sustained till end of the session, finally DSEX ended more than 11 points higher while CAPSI gained 38 points at closing.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went up by 11.72 points or 0.18 percent to settle at 6,207 points.
Two other indices also ended higher. The DS30 index, comprising blue chips, soared 16.71 points or 0.73 percent to finish at 2,302.
The DSE Shariah Index (DSES) also gained 4.70 points or 0.33 percent to settle at 1,433 points.
The market activities also increased and the total turnover amounting to BDT 5.63 billion, which was 12 percent higher than the previous day’s turnover of BDT 5.02 billion.
The losers, however, took a modest lead over the gainers as out of 334 issues traded, 145 closed lower, 130 higher and 59 issues remained unchanged on the DSE trading floor.
Square Pharmaceuticals topped the day’s turnover chart for the fourth day in a row with 1.35 million shares worth BDT 449 million changing hands, followed by Beximco Pharmaceuticals, Grameenphone, IFAD Autos and Dragon Sweater.
Monno Ceramic Industries was the day’s best performer, posting a gain of 9.31 percent while United Insurance was the day’s worst loser, plunging by 5.70 percent.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher with CSE All Share Price Index – CAPSI – advancing more than 38 points to finish at 19,157.
The Selective Categories Index – CSCX – also edged up by 24 points to settle at 11,568.
Gainers beat losers as 118 issues closed higher, 95 lower and 25 issues remained unchanged on the CSE.
The port city bourse traded 6.33 million shares and mutual fund units worth more than BDT 214 million in turnover.