Dhaka, Bangladesh (BBN)-Bangladesh’s stocks remain upbeat on Tuesday with improving turnover as better earnings figures and hope for capital market-friendly monetary policy stimulated investors to take fresh position in the market.
Half yearly earnings of the listed companies with June year-end have started to come up.
About 15 companies have reported their 2H’2014 earnings on Tuesday.
The benchmark index of the Dhaka Stock Exchange (DSEX) crossed the ‘psychological’ threshold of 4,400 points mark after 12-session and ended at 4,424.60 points, gaining 29.65 points or 0.67 percent.
The DS30, comprising blue chips gained 12.38 points or 0.77 percent to close at 1,618.06 points.
The DSES rose 8.09 points or 0.81 percent to close at 999.80 points.
DSE turnover improved to BDT 3.75 billion, registering an increase of 21.35 percent over the previous session’s value.
International Leasing Securities, said: “Declaration of better half-yearly and quarterly earnings stimulated the investors to take fresh position in the market”.
“The investors’ expectation regarding the next monetary policy statement also triggered the upbeat market sentiment to some extent” said the International Leasing.
IDLC Investments, said: “With earnings declarations being on the driving seat, market subdued the recent monotonous down trend for the second day”.
“Equity market continued positive momentum for yet another session backed by cue of recovery in quarterly earnings of stocks,” commented LankaBangla Securities.
Out of 297 issues traded, 192 advanced, 70 declined and 35 remained unchanged on the DSE floor.
Beximco Limited was the most traded stock for the eight consecutive sessions with shares worth BDT 490.87 million changing hands followed by GP, Padma Oil, Lafarge Surma Cement and Shahjibazar Power.
Summit Alliance Port was the day’s highest gainer, posting a rise of 9.82 percent while ICB First NRB Mutual Fund was the day’s worst loser, slumping by 6.87 percent.
The port city bourse, Chittagong Stock Exchange (CSE), also ended higher with its Selective Categories Index – CSCX – gained 43.69 points to close at 8,388.81 points.
Gainers beat losers 116 to 57, with 36 issues remaining unchanged at the port city bourse that traded 7.20 million shares and mutual fund units, turnover value of BDT 275.26 million.
BBN/BB/AS-22July14-3:00pm (BST)